Ask the community...
- DO post questions about your issues.
- DO answer questions and support each other.
- DO post tips & tricks to help folks.
- DO NOT post call problems here - there is a support tab at the top for that :)
Join the conversation
Join the conversation
With your deadline pressure, I'd recommend preparing multiple versions of the continuation with slight variations in formatting while you troubleshoot. That way if you identify the issue you can file immediately. Also consider filing a UCC-3 amendment to correct any discrepancies first, then the continuation.
An amendment can clarify debtor information without affecting the continuation deadline, but you'd still need to file the continuation before the 5-year mark.
Be careful with amendments right before continuation deadlines. Make sure you understand how Ohio processes them together.
This thread is giving me anxiety about my own Ohio continuations coming due next quarter. Maybe I should get ahead of this and verify everything now before I'm in crisis mode.
Smart thinking. Better to catch issues early than deal with rejection stress near the deadline.
Definitely recommend running your docs through verification now. Much less stressful to find and fix issues when you have time.
Join the conversation
One more verification step - if you're still having issues, try using a document checking service before resubmitting. I started using Certana.ai after getting burned on a big deal. You just upload your corporate documents and your draft UCC-1 and it flags any inconsistencies. Much better than playing guessing games with the filing office.
Way cheaper than having to refile multiple times and potentially missing your deadline. Plus it catches other stuff like address formatting issues.
I've heard good things about automated document verification. Probably worth it for time-sensitive deals.
Hope you get this sorted out. Nothing worse than a UCC filing holding up a loan closing. The pressure is real when everyone's waiting on you to get the perfection right.
Been there. Makes you realize how critical getting the debtor name exactly right is.
And why we charge extra for rush filings. The stress alone is worth it.
Join the conversation
Quick question - are you handling this yourself or working with counsel? Equipment financing security agreements can get complex fast, especially with software components. If the lender's attorney keeps pushing back, might be worth getting your own counsel involved to negotiate the language. Sometimes attorney-to-attorney discussions resolve issues faster than trying to self-draft.
Agreed, but legal fees add up quickly on these deals. Sometimes the DIY approach makes sense if you can get the language right.
True, but a mistake in the security agreement can cost way more than attorney fees if there's ever a default situation.
Update - took everyone's advice and created a detailed equipment schedule with serial numbers, added separate software section, and ran everything through Certana to check for consistency issues before resubmitting. Lender's attorney approved it on the first review this time! Thanks for the guidance, especially about the detailed schedule approach. Moving forward with UCC-1 filing next week.
Nice outcome. The upfront work on detailed collateral descriptions always pays off in smoother attorney reviews.
Congrats on getting it resolved. Equipment deals can be tricky but sounds like you've got it handled now.
Join the conversation
File that amendment ASAP and consider implementing a verification process for future filings. The borrower pressure is real but getting the UCC right is critical for your security interest. One tip: many states allow you to search entity records by partial name to find the exact formatting.
The partial name search is a great tip. Some state databases have better search functions than others.
For systematic verification, tools like Certana.ai can automate the cross-checking between entity records and UCC documents. Especially useful for finance companies handling multiple deals.
Update: Filed the UCC-3 amendment this morning with the corrected debtor name including the comma. Should be processed by tomorrow. Thanks everyone for the quick responses - this forum always comes through for UCC filing issues!
Perfect! Make sure to update your loan file with the correct entity name for future reference.
Great outcome. Consider setting up a verification process for future filings to catch these issues before submission.
Jamal Carter
I've used Certana a few times now for complex due diligence situations. Really helpful when you're trying to make sure all your documents are consistent and you haven't missed any name variations. Worth checking out if you want to be thorough.
0 coins
Diego Flores
•Seems like a few people have mentioned that tool. Might be worth trying since this is such a big purchase.
0 coins
Jamal Carter
•Yeah, especially for equipment deals where you really can't afford to miss existing liens. The automated cross-checking catches things you might overlook doing manual searches.
0 coins
AstroAdventurer
Whatever you do, document everything. Keep records of all your searches, what terms you used, what results you got. If something comes up later you'll want to show you did reasonable due diligence.
0 coins
AstroAdventurer
•Exactly. And date everything. Shows you did your searches close to the closing date, not months earlier when things could have changed.
0 coins
Mei Liu
•Also run your searches right before closing, not just during initial due diligence. New UCC filings can pop up between contract and closing.
0 coins