Office Information

Hagerstown MD
Corporate Office

Perry Funding LLC
Hagerstown, MD 21742
Ph: 301-791-0707
Fax: 888-446-2325

Funding Agent
Satellite Offices:

Falling Waters, WV (2)
Annapolis, MD
Eldersburg, MD
Ellicott City, MD
Greencastle, PA
Hagerstown, MD (3)
Lancaster, PA
Manchester, MD
Rockville, MD
Severna Park, MD
Venice, FL
Winchester, VA

About Our Company

Our Company History

In early 1981, Jay McDowell bought half of a two story double house with a 3rd floor attic at 651 Potomac Avenue in Hagerstown, while traveling to Washington, D.C., during his final year of law school. In May of that year, he started a business in that house called Friday’s Fresh Flowers, which consisted of a number of high school girls selling $3 bunches of flowers on the street corners of Hagerstown on commission basis. It was a nearly no overhead cash business which took off very quickly. The girls just happened to be attractive, and many young men would circle the block several times, buying several bunches of flowers just for the opportunity to talk to these young ladies.

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Over the next couple of years, Jay bought the other half of the double house, turned the 3rd story attics into apartments, expanded Friday’s on the first floor of the two buildings into a Flower, Balloon, Costume and Singing Telegram Shop with a manager, and turned the second floor into a residential mortgage lending business which Jay ran with the help of a secretary and one loan originator. In the beginning, Jay’s mortgage business was so slow that Jay’s secretary, LaDena, brought her banjo to work to have something to do.

Over the next few years, the mortgage business expanded and Jay hired more employees. The second floor became too small. Jay closed the shop on the first floor, renovated it into office space, and moved the mortgage business into the first floor and the third floor also. By the mid-nineties, he had 22 employees. In 1999, he formed Perry Funding to handle commercial lending.

For many years, the mortgage industry was a great place to be and a very lucrative way to earn a living. During 2001-2006, everyone wanted to be a loan officer. Anyone with a ball point pen and a calculator was making deep six figures as a loan originator.

Then came the housing crash of 2007 and the mortgage business quickly became no longer fun and no longer very profitable. Jay continued until the end of 2009, rented his large office at 651 Potomac Avenue to another business, and moved into smaller office space in early 2010 to focus entirely on propelling Perry Funding into the truck and equipment financing business.

By utilizing investor relationships he had made over the previous 28 years of business and by establishing some new ones, Jay found that he had access to nearly unlimited funding for trucks and equipment for many years to come.

Over the next couple of years, the fortunate acquisition of a talented Funding Manager and trainer, and ten well-qualified and highly ethical funding agents working out of their home offices in the Tri-State area gradually increased the funding volume of Perry Funding to very attractive levels by early 2014.

As we launch this new website today, we are poised and well-positioned to build dramatically upon this great base of business we have built over the past four years. We have just what we need: great funding Agents, a great network of truck and equipment dealers and other referral sources, as well as some of the best funding sources and investors available anywhere.

Our Commitment to Our Customers

We pledge to give the same vigorous and enthusiastic service to our customers with very ugly credit as we do to the very easy deals with customers who have perfect credit. Anyone can do the perfect credit deals, and we are happy to do them. The ugly credit deals take more work on our part by far, but it is amazing and gratifying to see the gratitude and appreciation that we get from our ugly credit customers when we call to them that their financing is approved.

We are committed to not waste your time, and we expect you to not waste ours. We can tell very quickly if your deal is workable when we get your application and the supporting paperwork and pull your credit report. We will rush to give you an approval. However, if something turns up along the way to indicate that your deal is not going to work, we rush to give you that news also. We are big believers that “bad news does not get any better with age”.

We pledge the same quality of service to our customers with the $10,000 deal as we do to our customers with the $500,000 deal. We know that the need for a $10,000 funding has the same urgency to that customer as the need for a $500,000 funding has for that customer and we intend to wow both customers equally.

Our Leadership and Culture

Everyone involved with Perry Funding believes that we want to do a lot of business and earn a good living in doing so. We also believe that business integrity is the highest calling of a business person. It leads to respect from your peers, your customers or clients, your vendors, your associates and your community.

There is opportunity in many businesses to cut corners, to make rationalizations about doing the right thing, to not make full disclosure where required. There exists a veritable cornucopia of those opportunities in the financial services industry. It doesn’t matter if it is real estate or trucks and equipment that you are financing-there is much opportunity to do the wrong thing. Jay fired a number of loan Agents in 28 years of the mortgage business for that exact reason.

We feel that we have a very high and strong duty to our investors and funding sources to act as watchdogs for them here in the trenches. We liken it to a fiduciary duty that an agent has to his or her principal. There are times when a customer will tell us something negative about themselves and then hasten to tell us that it will not appear on the credit report so don’t worry about it. Too late. They cannot put that toothpaste back into the tube. If it is something that may affect the integrity of the transaction or may be contrary to the guidelines of that particular funding program, we will not proceed with that transaction or deal until we run it by our investor or funding source. Nothing less than full disclosure is acceptable at Perry Funding. Jay McDowell spent many years developing a reputation for integrity and business ethics with dozens of mortgage investors and funding sources nationwide from 1982 to 2009, and Perry Funding carries on that exact mindset in every transaction today.