Tynis Concrete, Inc.
Tynis Concrete, Inc. is a poured concrete foundation and structure contractor located in Marengo, Illinois. The company was financed with an SBA 7(a) loan for a change of ownership of $1,007,000, approved on September 25, 2026, through Merchants Bank of Indiana.
SBA 7(a) loan, change of ownership, approved Sep 25, 2026
$1,007,000 approvedLender: Merchants Bank of Indiana10 years termCommitted, not fully disbursedLoan details
- Gross approval
- $1,007,000
- SBA-guaranteed amount
- $755,250 (75% of the approval)
- Lender
- Merchants Bank of Indiana, Carmel, IN
- Processing method
- Preferred Lender Program: lender approved under delegated SBA authority
- Initial interest rate
- 9%, variable
- Term
- 10 years (120 months)
- Estimated maturity
- September 25, 2036 (estimated, approval date plus term)
- Estimated monthly payment
- $12,756 Estimated payment at the initial rate over the full term; actual terms vary.
- Loan status
- Committed, not fully disbursed
- Jobs supported
- 17
- Business type
- Corporation
- NAICS
- 238110, Poured Concrete Foundation and Structure Contractors
- Project location
- Mchenry County, IL
- SBA district office
- Illinois District Office
- Congressional district
- IL-14
- Collateral
- Yes
- Guaranteed portion sold on secondary market
- Not reported as sold
- Revolving line of credit
- No (term loan)
- Larger than 48% of acquisition loans in Poured Concrete Foundation and Structure Contractors on this site.
- Average acquisition loan in Poured Concrete Foundation and Structure Contractors: $1,469,074.
- Average acquisition loan in Illinois: $1,796,780.
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.
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