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Update us when you get it resolved! I'm dealing with a similar EIDL termination issue and want to see what approach works.
Same here. These EIDL terminations are turning into a nightmare for so many businesses.
The SBA really should have standardized the UCC-1 filing process better from the beginning. Would have saved everyone these headaches.
This exact same thing happened to us! The original EIDL UCC-1 had our company name without the comma, but our current legal docs show it with the comma. What worked for us was pulling the actual original UCC-1 filing from the Secretary of State website and copying the debtor name character-for-character onto the UCC-3 termination form. Don't try to "fix" the name - just match exactly what's on the original filing. It's counterintuitive but that's how the system works. Also, if you're in a rush, definitely pay for expedited processing if your state offers it. We got ours processed same-day for an extra $35 fee. Good luck!
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Bottom line - don't overcomplicate your UCC-1 filing by bringing in concepts from the underlying purchase transaction. The security interest exists independently of how you acquired the collateral. Focus on clear collateral identification and proper debtor naming. That's what matters for perfection.
Got it. Thanks everyone for clearing this up. I was definitely overcomplicating things by trying to connect two separate legal concepts.
Glad this thread helped! I learned something too - never really thought about how timing of title transfer could affect when you can file the UCC-1.
This thread perfectly illustrates why so many people get tripped up on international equipment deals! I've been doing UCC filings for 15 years and still see experienced attorneys mixing these up. The key insight that helped me early on was realizing that incoterms are about the SALE relationship (buyer-seller), while UCC is about the CREDIT relationship (borrower-lender). They're completely separate legal frameworks that just happen to involve the same physical assets. For your $180K equipment, stick to standard UCC collateral description practices - be specific about the machinery type, include serial numbers if available, and don't reference how you acquired it. The FOB Hamburg terms served their purpose during the international sale but have zero relevance to your security interest perfection.
Really appreciate this perspective from someone with 15 years of experience! The sale vs credit relationship distinction is brilliant - that's exactly the mental framework I needed. I kept trying to find connections between the two when they're addressing completely different legal questions. Your point about the FOB terms serving their purpose and now being irrelevant to the security interest makes perfect sense. Going to focus purely on the UCC Article 9 requirements for the collateral description and stop overthinking the purchase history.
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OK so just to summarize for the original poster: No signature needed on UCC-1 form, electronic filing handles that. BUT make sure you have proper authorization in your security agreement. AND verify debtor name matches state records exactly. Your lender's paralegal was probably thinking of the security agreement signatures, not the UCC filing itself.
This is why I love this forum. Clear answers to common questions that trip up even experienced people sometimes.
Glad we could help. UCC filings seem complicated but once you understand the basic framework it's pretty straightforward.
As someone who's been handling UCC filings for about 5 years now, I can confirm what everyone's saying - no signatures required on the UCC-1 itself for electronic filing. The confusion usually comes from mixing up the security agreement (which definitely needs signatures) with the UCC filing (which doesn't). For your $180K equipment deal, just make sure your loan docs have clear language authorizing the UCC filing and you're good to go. Electronic filing systems have made this so much simpler than the old paper days. One less thing to chase down signatures for!
Thanks for confirming this! As someone new to UCC filings, it's reassuring to hear from people with experience. The distinction between security agreement signatures vs UCC filing requirements makes perfect sense now. I was definitely overthinking this whole process.
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One final tip - keep documentation of when the debt was satisfied and any communication with the debtor about termination. If timing ever becomes an issue, you'll want that paper trail to show you acted appropriately.
Good advice. I always send a copy of the filed termination to the debtor too, even though it's not required. Shows good faith and prevents future questions.
Same here. Clean documentation makes everyone's life easier if questions come up later.
As a newcomer to UCC filings, this thread has been incredibly helpful! I'm dealing with my first equipment loan payoff and was completely confused about the timing requirements. The distinction between consumer goods (automatic 20-day requirement) vs commercial equipment (demand-driven) makes so much sense now. I appreciate everyone sharing their practical experiences - sounds like filing promptly regardless of the legal minimum is the way to go. Quick question: when you say "written demand" from the debtor, does an email count or does it need to be a formal letter?
Great question! Email typically counts as "written demand" under UCC Article 9, but I'd recommend getting clarification from your legal team since some jurisdictions might be more conservative about what constitutes proper written notice. In practice, most lenders accept email demands, but having a paper trail with delivery confirmation never hurts. The key is that it's in writing and clearly requests the termination - doesn't matter if it's fancy letterhead or a simple email.
Amina Toure
Update: Called Oklahoma SOS this morning and they confirmed the comma difference would cause rejection. Filing the amendment today and will do the continuation once it's processed. Thanks everyone for the guidance - this forum saved me from a major headache!
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Isabella Ferreira
•At least Oklahoma SOS was helpful when you called. Sometimes they act like they can't be bothered to explain their own rules.
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NebulaNomad
•Smart move calling them directly. Getting official confirmation prevents any surprises when you file.
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Ethan Brown
Great to hear you got clarity from Oklahoma SOS! That's exactly why I always recommend calling the filing office when there's any doubt about their requirements. A quick phone call can save weeks of back-and-forth with rejections. Make sure to keep notes on what they told you in case you need to reference it later. Good luck with the amendment filing!
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