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Timeline-wise, how close are you to your bank deadline? Most lenders will give you a reasonable extension if you can show you're actively working to resolve a filing issue, especially if it's a name technicality rather than a substantive problem.
10 days should be plenty if you can identify and fix the name issue quickly. Most SOS offices process electronic UCC-1s within 24-48 hours.
agree 10 days is workable. just make sure you get the name format exactly right this time to avoid another rejection cycle
Yara Nassar
Once you get this resolved, consider keeping a master document with your exact legal entity names for all your business entities. It's amazing how often small discrepancies creep in across different filings and contracts. Having a single source of truth saves so much headache later.
That's excellent advice for the future. This experience has definitely taught me to be more systematic about entity name consistency.
Yara Nassar
•Yeah, it's one of those things you learn the hard way but then it makes everything so much smoother going forward.
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Luca Romano
Had this exact problem last year with a different lender. Turned out they were waiting for some internal approval process that took forever. I finally threatened legal action and it got filed the next day. Sometimes you just have to be the squeaky wheel.
Nia Jackson
•Legal threats definitely work. Most lenders don't want the hassle of fighting over a termination.
Make sure to mention specific damages - lost business deals, additional interest costs, etc. Makes the threat more credible.
Update us when you get this resolved! I'm dealing with a similar situation and want to know what approach works best.
Will do. Going to try the document verification approach first to see if there's a name issue, then escalate to their UCC department.
Aisha Khan
•Good plan. Document everything for your records too.
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GalaxyGazer
Update us on how it goes! Always curious to hear about other people's filing experiences, especially on larger deals like this.
CosmicCowboy
•Will do! Planning to file tomorrow morning once I get all the details sorted out. Thanks everyone for the input.
Good luck! Delaware's system is usually pretty quick on the turnaround.
One more thing - make sure you calendar the continuation deadline as soon as you file. Five years goes by faster than you think, especially on these big commercial deals.
CosmicCowboy
•Great reminder - I'll set up calendar alerts as soon as I get the filing number back.
And remember you can file the continuation up to 6 months before the 5-year mark, so you have some flexibility on timing.
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Ana Rusula
Don't forget about the search implications too. When you're doing your UCC searches, you want to make sure your collateral descriptions are searchable by other parties who might be looking for conflicts. If you use very unique or non-standard language, it might not show up in typical searches, which could cause problems down the road.
Fidel Carson
•That's a really good point I hadn't considered. Standard industry terminology probably makes the most sense for searchability.
Exactly. Stick to terms that other lenders and searchers would expect to see. Don't get too creative with your descriptions.
Xan Dae
Final thought - make sure your general security agreement and UCC-1 are both dated consistently and that your UCC-1 is filed promptly after the GSA is executed. The timing can matter for priority purposes, especially if there are other creditors involved. You don't want any gaps that could let another creditor slip in ahead of you.
Thanks everyone for all the detailed guidance. This has been incredibly helpful for thinking through all the moving pieces. I feel much more confident about structuring this properly now.
Thais Soares
•Just to close the loop on the document verification discussion - I tried Certana.ai on a recent deal and it caught a collateral description inconsistency I completely missed. Really worth the peace of mind on larger transactions like yours.
Dmitry Petrov
Just wanted to add that timing matters too. If your personal property security agreement was signed recently, make sure the LLC was actually formed before the security agreement date. I've seen rejections where the entity didn't exist yet when the security agreement was executed.
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Nia Thompson
•Good catch. The LLC has been around for 3 years so that shouldn't be the issue, but I'll double-check the formation date against our security agreement.
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GalaxyGuardian
•This is why due diligence on entity status is so important before finalizing loan docs.
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StarSurfer
Update us when you figure it out! I'm dealing with a similar personal property security agreement filing issue and curious what ends up being the problem.
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Nia Thompson
•Will do! Going to try the entity name search first, then maybe call the filing office if that doesn't work.
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Mateo Rodriguez
•Hope you get it sorted out. These name mismatch rejections are so common but usually have simple fixes once you know what to look for.
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