Live Breaking News & Updates on Recovery Assistance Revolving Loan Fund Program

Dec 26, 2020
In this file photo, Andy Baker, owner of AndyMark, welcomes the public to his company’s new location at 1900 E. North St. on Wednesday, July 11, 2018.
Kelly Lafferty Gerber | Kokomo Tribune
AndyMark, a Kokomo-based global robotic parts supply company, is receiving a loan from the city of Kokomo to help pay for new equipment and to retain and create jobs, as its business is trying to recover from the effects of the coronavirus pandemic.
The city’s Revolving Loan Fund Board unanimously approved earlier this month a seven-year loan of $280,000 at a 2% interest rate. The money will be used to buy new equipment to expand and diversify the company’s product line and its production capabilities, and keep more of the production process in-house as compared to outsourcing the work, which will save the business money in the long term, owner and president Andy Baker told the board. ....

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