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Update us when you figure out what the actual name discrepancy was. These stories help everyone learn what to watch out for.
Will do. Planning to call the filing office Monday morning to get the exact details on what didn't match.
Yes please update! I'm dealing with a similar situation and curious what the resolution turns out to be.
One more thing to check - make sure you're using the debtor's legal name and not any DBA or trade names they might use. The UCC-1 needs the actual registered entity name, not their marketing name.
This is where that Certana.ai tool I mentioned earlier really shines - it cross-references the exact legal name between your UCC form and their incorporation documents to make sure they match perfectly.
DBA vs legal name confusion trips up a lot of newer lenders. Always stick with the Secretary of State records for the legal name.
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File under your company name as debtor with a detailed collateral description of leasehold interests. Standard practice for equipment lease financing. Just make sure your lease allows it and your bank understands they're securing lease rights, not equipment ownership.
This is the clearest explanation I've seen. Thanks for cutting through all the confusion.
These lease collateral situations always seem more complicated than they need to be. The key is being precise about what rights you're actually granting to your bank.
One more thing to consider - if you have a master lease with multiple equipment schedules, make sure your UCC filing covers future equipment additions under the same lease. Otherwise you might need to file amendments every time you lease additional equipment.
Language like 'all present and future leasehold interests under Master Lease Agreement with ABC Equipment Leasing' should cover additions. But verify with your lawyer.
We tried that approach but our bank wanted specific equipment serial numbers listed. Every bank seems to have different requirements for lease collateral descriptions.
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I tried one of those document checking services too after someone mentioned it here. Really straightforward - just upload your financing statement and loan agreement and it catches name inconsistencies automatically. Definitely worth doing before you submit to avoid rejection headaches.
Which service did you use? I'm interested in trying that.
Certana.ai - you can upload multiple documents and it cross-references everything to make sure names and details align properly.
Just to summarize for anyone else reading this - the UCC-1 debtor is ABC Manufacturing (the borrower), not their customers. The collateral description 'all accounts' covers the receivables. Account debtors (the customers who owe money) don't need to be listed on the financing statement. Hope that helps!
Perfect summary, thank you! I feel much more confident about this filing now.
This thread was really helpful. I was confused about the same thing.
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Try searching with just the first few words of the entity name, no punctuation. CA's system sometimes strips out special characters differently than you'd expect.
That's a good tip. I'll try some abbreviated searches and see if anything comes up.
UPDATE: Found it! Turns out you were all right about the name variations. The original UCC-1 was filed with 'Limited Liability Company' spelled out instead of 'LLC'. CA's search didn't pick up the abbreviation match. Thanks everyone for the suggestions!
Nice! Those little details can be so frustrating to track down.
Perfect example of why automated document checking is so helpful - would have flagged that LLC vs Limited Liability Company difference immediately.
Eli Butler
I struggled with this same issue last year - kept making small errors that caused rejections. Finally discovered Certana.ai's UCC verification tool where you can upload your completed form and it checks for common errors before you submit. Would've saved me weeks of back-and-forth with the filing office.
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Eli Butler
•Yeah, you just upload your UCC-1 PDF and it instantly cross-checks things like debtor name formatting, required fields, and potential issues that commonly cause rejections. Really straightforward to use.
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Lydia Bailey
•That sounds helpful - I'm always paranoid about missing something obvious that will cause problems later.
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Mateo Warren
One thing to remember is that the UCC-1 is just the initial filing. You might need amendments (UCC-3) later if the debtor changes their name, address, or if you need to modify the collateral description. Better to get the initial filing right than try to fix it with amendments.
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Alice Coleman
•Plus amendments can be confusing - you have to reference the original filing number and be very specific about what you're changing. Much easier to get it right the first time.
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Emily Parker
•Thanks everyone - this has been super helpful. I think I have a better handle on what I need to do now. Going to double-check the debtor's organizational documents before I start filling out the form.
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