UCC Document Community

One more thing - after filing the termination, run another UCC search a few days later to confirm it was processed correctly and the original lien is no longer showing as active. I've seen filings get lost in the system.

Thanks everyone for the detailed advice! I'm definitely going to pull the original UCC-1 filing first to check the exact debtor name before doing anything. The name mismatch issue has me worried since we did change our corporate name in 2022. @Sara Unger mentioned filing an amendment first - do you know if that's required in all states or just some? Also @Justin Trejo that Certana tool sounds really helpful for catching these document errors. I'd rather spend a little upfront to avoid rejection headaches. Will report back once I get this sorted out!

Bottom line - GSA collateral typically includes everything except real estate and maybe some excluded assets. Your UCC-1 needs to match that scope exactly. Get it right the first time because amendments cost money and can create gaps in perfection timing that smart debtors' attorneys will exploit.

One more thing to watch out for - make sure your debtor name on the UCC-1 exactly matches your legal entity name as registered with the state. Even small variations like "Inc." vs "Incorporated" or missing commas can invalidate the filing. I've seen deals delayed because the UCC-1 had the debtor listed as the DBA name instead of the legal entity name. Most states have become very strict about this - the name has to match the state filing records exactly or the UCC search won't find it, which means your security interest isn't properly perfected.

One more thing - keep a copy of the filed UCC-3 termination for your records. Some auditors want to see proof that liens were properly released on paid-off loans. Documentation is key.

This thread has been super helpful! As someone new to handling UCC releases, I was wondering - is there a standard timeframe for how long it takes for the UCC-3 termination to show up in the public records after filing? I want to be able to tell my borrower when they can expect to see the lien released if they check online.

Bottom line - NC UCC statute gives you 6 months before expiration to file the continuation. File early, double-check everything, and make sure the debtor name matches exactly. With $850K at stake, it's worth being extra careful. Consider filing in February or March 2025 to give yourself plenty of buffer time before the June expiration.

As someone who's handled dozens of NC UCC continuations, I can confirm the 6-month window is correct per NC Gen. Stat. 25-9-515(d). Given your $850K exposure, I'd strongly recommend filing by February 2025 at the latest. One critical tip many overlook - pull a fresh UCC search report right before filing to ensure you're copying the exact debtor name format, including any punctuation or spacing. NC's electronic system is unforgiving about name variations. Also, since this involves construction equipment, verify whether any machinery has become so integrated into real property that it might require fixture filing treatment under NC law. Better to be over-cautious on a loan this size.

For anyone still struggling with this, I found that calling the Secretary of State filing office directly can sometimes help. They can't give legal advice but they can tell you if your proposed language is likely to be rejected based on common issues they see. Saved me a lot of time and filing fees.

This is such a timely discussion! I'm a newcomer here but dealing with similar UCC filing headaches for a client's working capital facility. The evolution of filing office standards has definitely caught a lot of practitioners off guard. One thing I'd add is to pay attention to the specific UCC Article 9 definitions when drafting your collateral description. Terms like "equipment" and "inventory" have very specific legal meanings that filing offices are starting to enforce more strictly. Also, if you're dealing with intellectual property, some states now want you to be more explicit about whether you mean patents, trademarks, copyrights, or trade secrets rather than just saying "general intangibles." The landscape has definitely gotten more complex, but threads like this are incredibly helpful for navigating these changes.