UCC Document Community

That's solid advice. I'd add that you should reference the master agreement date if there is one - helps tie everything together when you're doing lien searches later.

UCC financing statement effectiveness period ending - continuation filing confusion

I'm dealing with a UCC financing statement effectiveness issue and getting conflicting information from different sources. We have a UCC-1 that was filed in 2020, so it's coming up on its 5-year effectiveness period next year. Our legal team is saying we need to file a UCC-3 continuation statement within 6 months before expiration, but I'm seeing some references that say it can be filed anytime during the effectiveness period. The original financing statement secures a revolving credit facility that's still active with outstanding draws. What's the actual rule on timing for continuation filings? I don't want to file too early and have it rejected, but I also can't afford to let the UCC lapse because that would trigger a technical default under our loan agreement. Has anyone dealt with this timing issue before? The debtor name on the original filing matches exactly what's on the current corporate records, so that shouldn't be a problem. Just need clarity on when exactly I can file the continuation to maintain the UCC financing statement effectiveness.

UCC definition of equipment causing collateral description problems on filing

Having major issues with our UCC-1 filing getting rejected because apparently our collateral description doesn't match what the SOS considers proper equipment classification. We're trying to secure a $180k equipment loan for manufacturing machinery (CNC mills, lathes, industrial printers) but the filing keeps coming back with notes about improper equipment categorization. Our attorney drafted it as 'all equipment now owned or hereafter acquired' but the state is saying we need more specificity about what constitutes equipment vs inventory vs fixtures. The machinery is bolted down but moveable - some pieces are 8000+ lbs. Anyone dealt with this equipment definition nightmare? We're on a tight timeline and can't afford more rejections.

State of Indiana UCC search showing weird results - debtor name variations causing issues

I'm having trouble with Indiana's UCC search portal and wondering if anyone else has run into similar issues. I'm trying to verify existing filings for a commercial loan we're preparing to close, but the state of Indiana UCC search keeps returning inconsistent results depending on how I enter the debtor name. When I search for 'ABC Manufacturing LLC' I get different results than 'ABC Manufacturing, LLC' (with the comma). This is making it impossible to confirm whether there are existing liens that could affect our priority position. The borrower insists there are no other secured creditors, but I need to be absolutely certain before we file our UCC-1. Has anyone dealt with Indiana's search logic being this finicky? I'm worried we might miss something critical because of name variations in their database.

KY SOS UCC search showing wrong filing status - need help

Been trying to verify a UCC filing through the Kentucky Secretary of State search portal and getting inconsistent results. Filed a UCC-1 three weeks ago for equipment financing on a construction client, got the confirmation number, but when I search by debtor name the filing doesn't appear. However, searching by filing number shows it as 'active' status. The debtor company name on our loan docs is 'ABC Construction LLC' but I'm wondering if there's a name variation issue causing search problems. Has anyone dealt with KY SOS UCC search discrepancies like this? Really need to confirm this lien is properly recorded before we release the equipment funds.