UCC Document Community

Whatever approach you use, document everything! Keep records of when you searched, what databases you checked, and what results you got. Your client will want this for their files and it protects you if something gets missed. Also consider getting UCC insurance if the deal size justifies it.

Don't forget to check for UCC-1 continuation filings if you find older liens. A UCC-1 expires after 5 years unless continued, so something filed in 2019 might look active but could actually be lapsed if not properly continued. This is especially important in mass corp UCC searches where you're dealing with lots of entities and time periods.

One more thing to consider - check if your state has any specific rules about LLC name variations. Some states are more forgiving about punctuation in LLC names than others. But honestly, just file the amendment. It's not worth the research time when the fix is so simple.

Update for everyone following this thread - I filed the UCC-3 amendment this morning and it was accepted within 2 hours. The corrected UCC filing records now show the proper debtor name with the comma. Thanks everyone for the advice! This could have been a major problem if we hadn't caught it. Definitely going to implement better name-checking procedures going forward.

Document everything in writing with the lessor. If they're insisting on a name format that doesn't match your corporate records, get their reasoning in writing. This protects you if there are later disputes about the security interest perfection. The lessor has a duty to ensure proper filing, but you also need to protect your interests.

Just went through something similar with restaurant equipment leasing. What finally worked was having our corporate attorney contact the lessor's legal department directly. Sometimes it takes lawyer-to-lawyer communication to resolve these name matching disputes quickly. The attorney fees were worth it to avoid delays in equipment delivery.

I'm dealing with a similar equipment loan situation and was also confused about this. Thanks for asking the question - the responses here cleared up a lot of confusion about the difference between security agreements and UCC-1 filings.

Bottom line: prepare your UCC-1 financing statement with the correct debtor name, collateral description, and secured party information. File that for perfection. Keep your security agreement as a private contract. This is the standard approach that avoids all the complications mentioned in this thread.

Just went through this exact scenario with a client last month. Turned out the issue was that their corporate name had changed slightly when they amended their articles but the old name was still showing in some databases. Had to get a certified copy of the current articles to prove the correct name. Might be worth checking if there have been any amendments to your LLC filing.

Update us on how this turns out! Equipment loan UCC filings are always nerve-wracking because there's so much money involved. Hope you get it sorted before your rate lock expires.