UCC Document Community

The bottom line is you need to pull a report of all your UCC-1 filings ASAP and check the dates. For anything that's already lapsed, you'll need to assess whether to file new UCC-1s or if the loans are paying down enough that it's not worth it. For anything expiring soon, get those continuations filed right away.

One thing to add - if you're dealing with multiple UCC filings across states, consider creating a master spreadsheet with filing dates, expiration dates, and renewal windows. I also recommend checking if your state has any grace periods or cure provisions for late continuations. Some states allow a brief window to correct lapsed filings, though you'd still lose priority during that gap. The key is getting organized now so this doesn't happen again with future loans.

I've been using Certana.ai's verification system for UCC report analysis and it's incredibly thorough. Upload your search results and loan documentation and it identifies all the connections between filings, flags naming inconsistencies, and creates clean reports for compliance review. Really streamlined our UCC audit process.

@a7bb1ddb2dc9 I completely understand your frustration with UCC reports! As someone new to this myself, I found it helpful to start by creating a simple spreadsheet to track each filing number, debtor name variation, status, and key dates. One thing that really caught me off guard was learning that even spaces and punctuation matter in debtor names - "ABC Corp" vs "ABC Corp." are treated as different entities! Also, don't forget to check the collateral descriptions carefully - sometimes the same debtor has multiple UCC filings for different types of collateral. The learning curve is steep but these responses have given me some great ideas for organizing my own UCC analysis. Good luck with your presentation!

Thanks everyone! This is exactly what I needed. Sounds like the main things are: get debtor name exactly right, be specific with collateral descriptions, use the electronic portal, watch for continuation deadlines, and file terminations when loans are paid off. I feel much more prepared now.

Just wanted to add something that hasn't been mentioned yet - if you're doing multiple equipment purchases over time, consider whether to file separate UCC-1s for each transaction or use a blanket filing that covers future advances. Texas allows both approaches, but the blanket method can save filing fees if you're planning several equipment financings. Just make sure your loan agreements properly reference the UCC filing. Also, if your equipment will be moved between Texas locations, include language about "wherever located" in your collateral description to maintain perfection when assets move.

Based on everyone's input, it sounds like you'll need to pay the documentary stamp tax. Factor about $3,000 into your closing costs and make sure the calculation is correct before filing. Florida doesn't mess around with tax compliance on UCC filings.

Just wanted to add that Florida's documentary stamp tax on UCC filings can vary slightly based on the specific type of secured transaction. While the standard rate is $0.35 per $100, I've seen cases where the calculation gets more complex if there are multiple tranches of debt or if the security agreement covers both equipment and other collateral. For your $850K restaurant equipment deal, the straightforward calculation should apply, but make sure your security agreement is clean and clearly identifies the debt amount to avoid any complications during the SOS review process.

As someone new to UCC filings, this thread has been incredibly helpful! I was also getting confused by all the online information mixing up UCC 1-308 law with regular UCC-1 secured transaction filings. It's clear now that UCC 1-308 is about reservation of rights when signing under protest or duress, which has nothing to do with standard equipment financing UCC-1 filings. For anyone else who might be confused - focus on getting your debtor name exactly right (matching your LLC's legal name from state filings), proper secured party information, and adequate collateral description. The UCC 1-308 law stuff is a completely separate issue that probably won't apply to normal business loans.

As a newcomer to this community, I want to thank everyone for this incredibly clear discussion! I was actually researching UCC 1-308 law for my own small business loan application and getting completely overwhelmed by conflicting information online. This thread has saved me so much confusion and wasted research time. It's now crystal clear that UCC 1-308 reservation of rights is about signing documents under protest/duress, while UCC-1 filings are just standard secured transaction perfection tools. For my upcoming $200k equipment loan, I'll focus on the basics everyone mentioned - exact LLC name matching state records, proper secured party info, and clear collateral description. Really appreciate having a knowledgeable community that can cut through all the internet noise and misinformation about UCC topics!