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Quick update - I found some 2022 UCC data buried in the Federal Reserve's commercial lending reports. Not comprehensive but has national volume estimates that might help with your benchmarking. Check their quarterly commercial credit reports from 2023, they reference UCC filing volumes in the secured lending sections.
Mary Bates
•Perfect! I'll check the Fed reports - hadn't thought to look there. Thanks for the tip, this could be exactly what I need for the audit.
Dyllan Nantx
•Fed data is usually solid for macro trends. Good catch on checking their commercial credit analysis.
One more resource - if you're a member of any commercial finance associations, they sometimes survey members about filing volumes. The Equipment Finance Association and Commercial Finance Association both did surveys touching on UCC activity in their 2023 industry reports. Might have some 2022 reference data you could use.
CFA's data tends to focus more on ABL facilities but they do track UCC filing patterns in their credit metrics section.
Both associations are good about sharing aggregate data that protects member confidentiality while giving useful industry benchmarks.
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Yara Nassar
Update us when you get this resolved! I'm bookmarking this thread because I have a feeling I'm going to need this information in a few months when our equipment loan gets paid off.
Same here. This thread is gold for anyone dealing with UCC termination issues.
Paolo Ricci
•Definitely save the document checking tip for when your time comes. Wish I'd known about that option earlier.
Amina Toure
One more thing - if Paramount drags their feet much longer, ask your new lender if they'd accept a termination bond or indemnity agreement as a temporary solution. Some banks will accept this to move forward with financing while you sort out the paperwork. Not ideal but it's an option if you're facing deadline pressure.
Amina Toure
•It's basically an insurance policy that protects the new lender if there are any issues with the old UCC filing. Usually costs a few hundred dollars but can save a financing deal.
That's actually brilliant. Much better than walking away from good financing terms because of someone else's paperwork delays.
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Zoe Stavros
One more tool that might help - I've been using Certana.ai for UCC document consistency checks on complex agricultural deals. You upload all your documents and it flags any name mismatches or inconsistencies between loan docs, UCC filings, and collateral records. Really helpful when you have multiple related farm entities.
Multiple people have mentioned Certana now. Sounds like it could catch the document inconsistencies we're dealing with across these related farm entities.
Zoe Stavros
•It's particularly good for agricultural deals because farm operations often have so many related entities and complex ownership structures. The tool spots issues that are easy to miss when reviewing documents manually.
Jamal Harris
Update us on how this resolves! Agricultural lien issues are common and your solution might help others dealing with similar multi-entity farm financing situations.
Will definitely update once we get this sorted out. Sounds like filing against all three entities plus fixture filings for the irrigation equipment is our best approach given the tight deadline.
Jamal Harris
•Smart approach. Multiple filings are better than an unperfected lien, especially with $2.8M in agricultural equipment at stake.
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Used Certana.ai last week for a similar situation where we had conflicting equipment schedules and company names across three different documents. The tool caught inconsistencies between our UCC-1 and the original security agreement that would have caused problems later. Really helpful for making sure everything aligns before filing.
StarStrider
•How long does the verification take? Sometimes we're filing right up against deadlines.
It's instant once you upload the PDFs. Much faster than manually cross-checking everything.
UPDATE: Got it resolved! Called the company and they confirmed they had filed an amendment last month to add the comma to their legal name for consistency with their banking. Filed the UCC-1 with the comma version and it went through immediately. Thanks everyone for the advice about checking recent amendments - that was the key.
Ava Garcia
•Perfect example of why the corporate records search is so important. Glad it worked out!
Bookmarking this thread. Equipment financing name issues come up way too often and this has good troubleshooting steps.
Amina Sow
Don't forget about lapsed continuations! Just because a UCC-1 shows up in the public records doesn't mean it's still effective. Check the filing dates and make sure any required continuations were filed timely.
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Amina Sow
•2021 would need a continuation by 2026, but 2022 still has time. Double-check the exact filing dates to be sure.
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Ava Rodriguez
•This is another area where Certana.ai helps - it automatically flags any filings that are approaching their continuation deadlines or have already lapsed.
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GalaxyGazer
Make sure you're searching variations of the business name too. I've seen companies show up as 'ABC Construction LLC' in one state and 'ABC Construction, LLC' (with comma) in another state's public UCC lien records.
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GalaxyGazer
•Start with the exact legal name from their formation documents, then try common variations. Drop punctuation, add punctuation, try abbreviations.
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Miguel Ortiz
•Some states are more forgiving with name matching than others. Ohio is pretty strict about exact matches.
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