Posted on Jun 3, 2015

Dream of opening coffee shop slipped away from veteran - Tough luck? Bad planning?

SPC Jan Allbright, M.Sc., R.S.

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So O'Kane took the $70,000 from the military for her business plan and she borrowed $160,000 from friends, who by the way, she is still paying back at the rate of $900 per month. Long after her failed dream.

She also took out a $200,000 mortgage in the form of a promissory note from that Choice Properties of Pennsylvania, LLC. But when the dream failed, the mortgage company foreclosed on her. The company has the building for sale at $250,000.

http://www.stripes.com/news/veterans/dream-of-opening-coffee-shop-slipped-away-from-veteran-1.350272

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Business

Posted 9 y ago

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MAJ Ken Landgren

Posted 9 y ago

Owning a business might financially break a person or reward the person. It is the riskiest form of investment you can make.

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SPC Jan Allbright, M.Sc., R.S.

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True that!

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LTC John Shaw

Posted 9 y ago

SPC Jan Allbright, M.Sc., R.S. So sad! This is the downside of capitalism, people take risks, fail and lose everything. It looks like she is a survivor and will keep going.

I will not judge her at this point, sell the building for whatever she can get and move on with life.

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