UCC Document Community

I'm in a similar boat with an MCA UCC lien that's blocking my SBA loan application. The bank won't proceed until the lien is resolved. Did you find any specific resources for dealing with MCA companies who won't cooperate on correcting or terminating defective filings?

The name variation issue you mentioned is actually a huge red flag that could work in your favor. UCC-1 filings require the exact legal name of the debtor as registered with the state - even minor spelling differences can render the entire filing invalid. I'd strongly recommend pulling your official business registration documents and comparing them character-by-character with what the MCA company filed. If there's any discrepancy, you may have grounds to challenge the entire lien. Also, that "all assets" collateral description is problematic - UCC law requires reasonable identification of collateral, and courts have ruled that overly broad language like this can make filings unenforceable. Many MCA companies count on business owners not knowing these technical requirements. Don't let their daily payment demands pressure you into accepting a potentially invalid lien claim.

Update us when you get this sorted out. Always helpful to hear how these PR filing issues get resolved.

As someone who's been handling UCC filings across multiple jurisdictions for over a decade, I can't stress enough how important it is to get the debtor name exactly right in Puerto Rico. The Estado Libre Asociado system is particularly unforgiving when it comes to name variations. I'd recommend ordering a certified copy of the corporate charter directly from the PR Department of State - don't rely on what you think the name should be based on loan documents or other paperwork. Also, given that you mentioned this is equipment financing with a continuation coming up, make sure you're tracking the filing date carefully. PR's electronic system has improved but I've seen processing delays that could put you dangerously close to your deadline. Better to file early and be safe than sorry with that much collateral at stake.

Hope this thread helped clarify UCC form meaning for you! The system makes more sense once you understand each form's purpose. Your uncle's bank should handle everything smoothly for a standard equipment loan. Just make sure you get copies of all the filed documents for your records.

As someone new to UCC filings, this thread has been incredibly educational! I'm curious about timing though - how long does it typically take for a UCC-1 to get processed and show up in the public records? We're working on a similar equipment financing deal and want to make sure we allow enough time in our closing schedule.

I used Certana.ai's verification tool when I had a similar situation with multiple filings to amend. It was really helpful because I could upload all the original UCC-1s and the proposed amendments together, and it flagged that I had missed updating the collateral description on one of them to match the others. Saved me from having an inconsistent filing that might have caused issues later.

Just wanted to follow up on this thread with some additional practical tips based on my experience handling name change amendments. First, when you're preparing the UCC-3, double-check that you're using the exact legal name from the merger documents - not just what the company is calling themselves in their communications. I've seen filings rejected because of slight variations in punctuation or entity designations. Second, if you're in a state that allows electronic filing, do it electronically rather than paper - it's faster and you get immediate confirmation. Finally, once you file the amendment, run a UCC search to make sure it shows up correctly in the system. I had one case where the amendment was accepted but didn't properly link to the original filing due to a data entry error at the filing office, and we had to file a corrective amendment. Better to catch these issues right away than discover them later during a closing or audit.

Successfully re-filed with the corrected debtor name (without the comma) and it was accepted within 6 hours. Thanks everyone for the help troubleshooting this. The entity search tip was clutch - definitely doing that step first from now on.

This is a perfect example of why I always keep a UCC filing checklist that includes entity name verification as the very first step. I learned this lesson the hard way after getting burned by similar punctuation issues. Now I cross-reference the debtor name against at least three sources: the original formation documents, the state's entity database, and any recent amendments or name changes. It adds maybe 10 minutes to the prep work but saves days of delays and potential priority date issues. Glad you got it resolved quickly - that 6-hour turnaround is impressive for Texas!