Posted on Jun 3, 2015
Dream of opening coffee shop slipped away from veteran - Tough luck? Bad planning?
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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
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
Posted in these groups: 
Self Employed
Business
Self Employed Business
Posted >1 y ago
Responses: 6
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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. 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.
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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