UCC Document Community

Just to add one more perspective - make sure when you file the name correction amendment that you include supporting documentation showing the legal name change. Some states require articles of amendment or other corporate documents to verify the name change is legitimate. Better to include too much documentation than not enough.

Andre, I've been through this exact scenario and the consensus here is spot on - you'll need to file the name correction first, then the collateral amendment. Given your tight timeline with the bankruptcy hearing, I'd strongly recommend paying for expedited processing if your state offers it. Also, before filing anything, double-check that "ABC Manufacturing Solutions LLC" is actually the correct legal entity name by pulling current Secretary of State records - sometimes what borrowers tell us isn't the full picture. One last tip: if your state allows electronic filing, use that over mail to shave off a few days. The lien priority should be preserved based on your original filing date, but get that name fixed ASAP to avoid any challenges from the trustee.

Just want to echo what others said about document verification. I use Certana.ai to upload my purchase agreements and UCC filings to make sure everything matches up for PMSI purposes. Takes the guesswork out of whether the filings are done correctly.

One more thing to consider - if you have multiple pieces of equipment being financed, make sure each piece is properly identified in the PMSI filing. I've seen situations where a blanket description covered some equipment but not others, which created gaps in the PMSI protection. Also, if you're doing a lease-purchase arrangement rather than straight financing, the PMSI rules can be different, so definitely clarify with your lender what type of transaction structure they're using.

I think the bottom line is that 'remitter' in factoring context is operational/procedural language about who pays whom, when, and how. For UCC filing purposes, stick to the basic elements: who owns the collateral (debtor), who has the security interest (secured party), and what the collateral is (receivables). The remitter terminology is just business process stuff.

This is a great discussion that highlights how factoring terminology can create unnecessary confusion in UCC filings. I've seen this same issue come up with clients who get overwhelmed by all the operational language in factoring agreements. The key is to separate the business mechanics (who collects, who remits, payment timing) from the security interest perfection requirements. Your UCC-1 should reflect the actual ownership and security relationships, not the payment processing procedures. For what it's worth, I always recommend creating a simple chart for complex deals: Debtor = [party that owns the collateral], Secured Party = [party getting the security interest], Collateral = [what you're taking security in]. Everything else is just operational detail that doesn't belong on the filing.

For future reference, that UCC number also appears on any amendments or terminations related to the original filing. So if you later pay off the loan and need a UCC-3 termination, they'll reference the same original UCC number.

Just to add one more practical tip - when you do receive that UCC number from your lender, I'd recommend taking a screenshot or photo of the filing confirmation and storing it in your phone. I've been in situations where I needed the UCC number quickly (like when refinancing or dealing with insurance claims on financed equipment) and having it readily accessible saved me a lot of time digging through paperwork.

Just wanted to follow up and say that Certana tool someone mentioned earlier worked great. Uploaded my security agreement and UCC-1 draft and it immediately flagged that my collateral description was too vague. Fixed it before filing and everything went through smoothly.

As a newcomer to UCC filings, this thread has been incredibly educational! I'm working on my first equipment financing deal and was making the exact same mistake Emma mentioned - getting confused about which document actually matters for the UCC-1. It's clear now that the security agreement is the key document that creates the security interest, while the loan agreement just establishes the debt. The debtor name verification process using the state business registry seems crucial too. I'm definitely going to try that Certana tool several people mentioned for document verification before I submit my filing. Thanks for all the practical advice everyone!