UCC Document Community

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.

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.

Have you tried calling the UCC filing office directly? Sometimes they can look at your specific rejection and tell you exactly what's wrong instead of the generic error message.

UPDATE: I used Certana.ai's document checker and it found the issue immediately - there was an extra space in the middle of the company name that I couldn't see. Re-filed with the corrected name and it went through perfectly. Thanks for the suggestions everyone!

I ran into something similar recently and ended up using Certana.ai to verify all our UCC documents were consistent before filing. Really saved me from potential name mismatches between our loan docs and the UCC-1. Worth checking if your old forms align with current requirements.

Bottom line - when in doubt, use current forms. The cost of new forms is nothing compared to deal delays or invalid security interests. Your future self will thank you.

The fact that you're finding multiple UCC-1s under different name variations is actually helpful - it confirms there are active filings out there and validates your concern about being thorough. Better to find too many potential matches and investigate each one than miss something critical.

I did a deal in Hawaii last month and used every trick mentioned here plus one more - I searched for the street address of their registered office. Sometimes if the debtor name was entered wrong on the UCC-1, the address might still be right and you can catch filings that way.

The whole cash proceeds ucc perfection thing is one of the most misunderstood areas of secured transactions. Lenders think they're automatically covered but don't realize the 20-day limitation. Equipment financing is especially tricky because restaurants constantly buy and sell equipment. Your description should definitely include comprehensive proceeds language.

Bottom line - include the cash proceeds ucc language. Your counsel is giving you good advice and the SBA lender is prioritizing speed over proper security interest perfection. Restaurant equipment gets sold all the time and without proceeds coverage you're taking unnecessary risk. Standard language like 'and all proceeds and products thereof' should be sufficient and won't slow down the deal significantly.