Ask the community...
- DO post questions about your issues.
- DO answer questions and support each other.
- DO post tips & tricks to help folks.
- DO NOT post call problems here - there is a support tab at the top for that :)
Join the conversation
Join the conversation
Yuki Tanaka
Don't forget about terminated filings in your UCC-1 list! You need to track those too for audit purposes. Some examiners want to see that you properly terminated liens when loans were paid off. I keep a separate 'terminated' section in my spreadsheet.
Good point. We probably have 50+ terminated UCCs I should account for.
Carmen Ortiz
•Make sure you filed UCC-3 termination statements for those. Just paying off the loan doesn't automatically terminate the UCC filing.
Quick question - are you tracking UCC-3 amendments in your list too? If you've done any amendments to add collateral or change debtor info, those need to be reflected in your master list. The continuation calculations are still based on the original UCC-1 date though.
Yeah, amendments can get messy. Each one should reference the original filing number so you can track the chain of filings for each loan.
This is exactly why I started using automated tools. Too many moving parts to track manually without making mistakes.
Join the conversation
Khalid Howes
One thing that's helped me is creating a spreadsheet with all possible name variations before I start searching. Include legal name, DBAs, common abbreviations, with and without punctuation, etc. Then systematically work through each one.
Naila Gordon
•Organization definitely helps. These searches can get overwhelming without a clear methodology.
Cynthia Love
•I do something similar but also include phonetic variations. You'd be surprised how many filing errors are basically just misspellings.
Thanks everyone for the advice. Going to try a more systematic approach and check multiple states. Hopefully I can avoid any nasty surprises down the road.
Rosie Harper
•Good luck! Thorough searches take time but they're worth it.
Let us know how it goes. Always interested to hear about search strategies that work.
Join the conversation
Javier Cruz
Whatever you do, don't rush the filing. SBA deals have enough moving parts already without adding UCC problems to the mix. Take the time to get the collateral description right.
Emma Wilson
•This is solid advice. Better to take an extra day or two than deal with rejection and refiling.
You're right. I'll slow down and make sure everything is properly coordinated before filing. Thanks everyone for the guidance.
Malik Thomas
Just to add - keep copies of everything. SBA audits sometimes happen years later and they'll want to see that your UCC filings properly supported the original loan security.
NeonNebula
•Great point about documentation. SBA has long memories when it comes to loan compliance.
Definitely maintain a full filing record. Helps with any future amendments or continuation filings too.
Join the conversation
Has anyone dealt with Article 9 issues where the debtor disputes whether the name change was actually misleading? Sometimes corporate name changes are minor enough that the original filing would still be found in a reasonable search.
Omar Zaki
•Article 9's 'seriously misleading' test is usually based on whether the Secretary of State's standard search logic would find your filing. If their system can't match your original filing to the current name, then it's misleading.
Chloe Taylor
•That's why the four-month rule exists - it gives you time to test whether your filing is still discoverable and fix it if necessary. Article 9 puts the burden on secured parties to maintain accurate filings.
Diego Flores
This whole thread is making me realize how technical Article 9 compliance really is. One missed deadline and you could lose priority on a six-figure asset. Definitely need better systems for monitoring debtor name changes and Article 9 requirements.
The technical requirements are the price of Article 9's efficiency. It's much faster than the old chattel mortgage system, but it requires more precision in compliance.
Sean Murphy
•Agreed. We've started building Article 9 compliance checks into our loan servicing procedures. Regular UCC searches, corporate record monitoring, and document verification tools like Certana.ai help catch issues before they become priority problems.
Diego Vargas
Just wanted to follow up on the Certana suggestion from earlier - I tried it after seeing this thread and it actually found a UCC filing I had missed on my own search. The document comparison feature caught a name discrepancy between the charter and UCC that I wouldn't have noticed manually. Pretty impressed with how quick it was.
0 coins
Keisha Robinson
•That's exactly what I need right now. Going to try uploading their formation docs and see what it finds. Thanks for the follow-up!
0 coins
Natasha Kuznetsova
•Glad it worked for you too! It's saved me so much time on these tricky name matching situations.
0 coins
CosmicCruiser
Update: I finally found the filings! Turns out they were under 'Southwest Manufacturing Solutions, L.L.C.' with periods in the LLC abbreviation. Found 2 active UCC-1s that way. Texas search is so particular about punctuation it's ridiculous.
0 coins
GalaxyGazer
•Perfect example of why exact name matching is both a blessing and a curse. At least you found them before moving forward with the loan.
0 coins
Javier Mendoza
•This whole thread is a great reminder of why UCC searches require so much patience and creativity. Thanks for sharing the solution!
0 coins