Tnk Acquisitions, Inc.
Tnk Acquisitions, Inc. is located in Grand Rapids, MI, and the SBA lists its industry as Hobby, Toy, and Game Retailers. It was approved for an SBA 7(a) loan of $837,900 for a change of ownership on May 14, 2024.
SBA 7(a) loan, change of ownership, approved May 14, 2024
- Gross approval
- $837,900
- SBA-guaranteed amount
- $628,425 (75% of the approval)
- Lender
- TowneBank, Portsmouth, VA
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 10.75%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- May 14, 2034 (estimated, approval date plus term)
- Estimated monthly payment
- $11,424 Estimated payment at the initial rate over the full term; actual terms vary.
- First disbursement
- Jun 10, 2024
- Loan status
- Status not reported (SBA exemption)
- Jobs supported
- 9
- Business type
- Corporation
- NAICS
- 459120, Hobby, Toy, and Game Retailers
- Project location
- Kent County, MI
- SBA district office
- Michigan District Office
- Congressional district
- MI-03
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Yes
- Revolving line of credit
- No (term loan)
- Larger than 50% of acquisition loans in Hobby, Toy, and Game Retailers on this site.
- Average acquisition loan in Hobby, Toy, and Game Retailers: $1,090,500.
- Average acquisition loan in Michigan: $1,645,728.
Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.
Is this your company? Claim or correct this listing. See Corrections.