What's your greatest making money mistake?

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My sister-in-law thought of a business to help her family earn money. She did not have money to start a business but she is so eager to avail a franchise (which cost P30,000.00). Since she and her father are members of a certain cooperative, they decided to take advantage. The rule of the cooperative is that you can lend twice the amount of your capital build up for the first loan, thrice during the second and four times for the third. She only got P2000 while her father had P1500 in their share capital. What they did is first apply for first loan through my father-in-laws account. They got P3000. My sister deposited the money to her account and then applied for her own loan. When her loan was released, she paid her father's loan and added the rest to her father's share capital. Next, they applied for a second loan under her father(that's P25,500). She paid her loan and then deposited the rest to her share capital. They then applied a loan for herself (P41,000.00). She used P41,000 to start a business (franchise+start-up expenses). The business she had chosen was good but she has a total of P66,500.00 loan from the cooperative. At 2.5% interest, she needs to pay P1,662.5 per month. She struggled between coping up with her business' expenses plus her loan obligations... I think she made a wrong move in making money.