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Zoe Walker
Final thought - whatever description you use, make sure you keep good records of what equipment was actually included at the time of filing. I've seen situations where people had to reconstruct the collateral coverage years later and it was a nightmare without proper documentation.
Mia Green
•Good advice - I'll make sure to document everything clearly in the file. Thanks everyone for all the helpful input on this!
Zoe Walker
•You're welcome! These collateral description questions come up all the time, so you're definitely not alone in wrestling with the details.
Really appreciate all the detailed responses here! I'm leaning toward the hybrid approach several of you mentioned - being specific on the 6 major pieces of equipment (with make/model/serial numbers) and then using broader language like "and all other manufacturing equipment, machinery, tools, and fixtures, whether now owned or hereafter acquired" to cover everything else. This seems like it gives the best of both worlds - clear identification of the valuable items while maintaining broad coverage for future acquisitions. Going to review my security agreement language one more time to make sure everything aligns before filing. Thanks for helping me think through this!
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NebulaKnight
Update us when you get this resolved! I'm curious to hear what the actual issue was. We've got a couple terminations pending too and wondering if we should be more proactive about following up.
Nia Harris
•Will definitely post an update once this gets sorted out. Calling supervisor level tomorrow morning.
Yes please update! Would help the rest of us know if this is a widespread issue or just random delays.
Sasha Reese
I'm dealing with something similar right now - filed a UCC-3 termination two weeks ago and it's still showing pending. What's frustrating is that I called last week and they said "2-3 more business days" but here we are. From reading through these responses, it sounds like escalating to supervisor level and having solid documentation is key. I'm also intrigued by the verification tools some folks mentioned - might be worth having that kind of backup before making the next call. Has anyone tried refiling when stuck like this, or is that just asking for more delays?
Emma Wilson
•I wouldn't recommend refiling unless you're absolutely certain there was an error in your original submission - that could just create duplicate filings and more confusion. From what I'm seeing in this thread, it sounds like there are systemic delays right now. I'd follow the advice others gave about escalating to a supervisor first, especially with your borrower's timeline pressure. The verification tool approach also seems smart - having documentation that proves your filing was correct gives you more leverage when you call. Keep us posted on how the supervisor call goes!
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Does anyone know if SC offers expedited processing for an additional fee? I have a closing next week and need the UCC-1 filed ASAP.
Ok I'll try that approach. Fingers crossed it goes through quickly!
Sophie Duck
•In my experience SC is pretty fast with online filings. Just make sure everything is perfect the first time so you don't have to refile.
Just wanted to add that SC also accepts paper filings by mail if anyone prefers that route, though it takes longer to process - usually 5-7 business days. The fee is still $20 but you need to include a check or money order. I've found their online system to be pretty reliable though, so I'd recommend sticking with electronic filing unless you have a specific reason to go with paper.
That's good to know about the paper filing option! I'm just getting started with UCC filings and wasn't sure if electronic was the only way. The 5-7 day processing time for paper is pretty reasonable if you're not in a rush. Do you know if they provide tracking for mailed filings so you can confirm they received your documents?
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I'm dealing with something similar right now and found that running both UCC filings through Certana.ai's verification tool really helped clarify the priority analysis. It compares the collateral descriptions and highlights potential conflicts. Worth the peace of mind when you're facing a bankruptcy trustee.
Both really. It flags inconsistencies that could void your filing but also helps you understand how your collateral description overlaps with other liens. Made me realize issues I hadn't spotted manually.
Ellie Perry
•This is why I always recommend cross-checking UCC filings before assuming priority. So many hidden issues that don't surface until there's a dispute.
This is a really educational thread - I'm relatively new to equipment financing and had no idea PMSI priority could be this complicated. From what I'm reading, it sounds like Lucas has decent facts (timely filing, specific collateral description, clear purchase money source), but there are so many potential pitfalls. The fixture issue raised by Gianna seems particularly concerning. Is there a good resource for understanding when manufacturing equipment crosses the line into fixture territory? Also, has anyone dealt with situations where the debtor had multiple lenders with overlapping equipment liens? Trying to learn from everyone's experience here.
Dylan Cooper
•Great question about fixtures! The key test is usually whether the equipment is so integrated with the real property that removing it would cause substantial damage. For manufacturing equipment, courts look at factors like: (1) method of attachment - is it just bolted down or actually built into the structure, (2) whether it's customized for that specific location, and (3) the intent of the parties. A good rule of thumb is if you need a crane and significant work to move it, it might be crossing into fixture territory. For multiple overlapping equipment liens, I always run a full UCC search and map out all the collateral descriptions to spot conflicts early. The devil is really in the details with these priority disputes.
Cole Roush
One thing I'd add that hasn't been mentioned yet - if you're planning to move your business to a different state, make sure to discuss this with your lender beforehand. UCC filings are state-specific, so relocating can affect the perfection of the security interest. Your lender might need to file in the new state to maintain their priority. It's not a huge deal, but it's something to keep in mind for future planning.
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Connor O'Neill
•That's a great point I hadn't considered! I'm not planning to relocate anytime soon, but it's good to know for the future. Would the lender typically handle refiling in the new state, or is that something I'd need to initiate?
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Sofia Torres
•Usually the lender will handle the refiling since it's in their interest to maintain their security position. Most loan agreements have provisions requiring borrowers to notify the lender of any address changes, and then the lender takes care of the necessary UCC filings. But definitely confirm this with your lender when you sign - some might put the responsibility on the borrower to initiate the process.
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Mohammed Khan
This is such a helpful thread! I'm in a similar situation with my first equipment loan and was equally confused about UCC filings. One thing that's been on my mind - if I have multiple pieces of equipment being financed, does the lender file separate UCC-1 forms for each item, or can they list everything on one filing? Also, does it matter if I finance equipment from different vendors at different times? I want to make sure I understand how this works before I sign anything.
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Amara Oluwaseyi
•Great questions! Typically lenders can list multiple pieces of equipment on a single UCC-1 filing as long as they're all part of the same loan or credit facility. The collateral description can be broad (like "all equipment") or specific (listing each item). For equipment financed at different times or from different vendors, it often depends on whether they're separate loan agreements or amendments to an existing facility. If they're separate loans, you'll likely see separate UCC filings. The key is that each filing needs to accurately describe what collateral secures which debt. Your lender should explain their specific approach during the loan process.
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