look up any word, like dirty sanchez:
 
1.
A white, American born male hired by an Indian hotel owner as general manager and to act as the "public face" of the property he manages. To be a true Billy Schrank, this person must also consistenty allow himself to get fucked out of promised bonus pay and be easily tricked into performing capital upgrades and maintenance to the property for no additonal money, thus making him a complete loser, a sucker and an individual devoid of his manhood.
"The manager of the La Quinta was nice enough, but I felt sorry for him because he worked so hard for that damn Indian owner for peanuts. Jesus what a friggin' Schrank he was."
by Jacob Miller September 19, 2005
 
2.
Functioning as either a noun or a verb, it is acceptable to use in any context to describe an object or place in the physical world, with the exception of a typewriter. In the verb usage, to be "schranked" implies being fucked with to the nth power.
Noun: "I put my schrank in your bait box."
Verb: "Honey, I schranked the kids!"
by sungodRa April 15, 2008
 
3.
a male with a small penis, as if it SHRANK.
however, due to the many males with the last name SCHRANK, the nickname stuck & is spelled with a c.
Greg is such a SCHRANK yo.
A skank?
Nah, a schrank. Smallest cock in New England, EFP said so.
by A team! February 12, 2009