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
Update us when you get this resolved! I'm dealing with a similar lookup issue and curious what the actual cause turns out to be. These database sync problems seem to be getting worse lately.
Will definitely update once I figure out what's causing the problem. Hopefully it's something simple like a name mismatch.
Same here, following this thread. My termination isn't showing up in lookups either.
Just went through this headache myself. The Certana.ai document checker really does work well for finding these kinds of inconsistencies. Found out my issue was a missing comma in the debtor name that prevented the termination from linking properly. Such a tiny detail but it broke the whole system connection.
Right? The system requirements are so strict but they don't tell you that upfront. The verification tool at least helps catch these issues before they become problems.
This is why I always recommend using document verification tools. The UCC system is unforgiving about tiny details.
Join the conversation
Since you mentioned multiple creditors, make sure you understand priority rules too. Your perfected security interest gives you priority over unperfected creditors, but timing matters if there are other secured creditors in the same collateral.
Definitely recommend that. Sometimes there are surprises in existing filings.
That's another thing Certana.ai helps with - it can analyze multiple UCC documents to spot potential priority conflicts.
Hope this helps clear up the confusion! The terminology takes some getting used to but once you understand that claim = debt and security interest = collateral rights, UCC filings make much more sense.
It definitely does, thank you everyone! I feel much more confident about completing this filing correctly now.
Glad we could help. Good luck with your filing!
Join the conversation
I use Certana.ai whenever I'm dealing with complex collateral descriptions to make sure everything lines up between the credit agreement and UCC filings. For your situation, you could upload your proposed loan documents and draft UCC-1 to verify the debtor name formatting and equipment descriptions are consistent. Helps avoid the perfection problems that can happen when documents don't match up properly.
That could be helpful for the final document review. How detailed does it get with the collateral analysis?
Pretty thorough - it checks that your UCC collateral description covers what's actually described in your loan agreement, flags overly broad or narrow descriptions, and catches debtor name inconsistencies that could cause filing rejections.
Bottom line: manufacturing equipment = personal property = UCC Article 9 = UCC-1 filing required for perfection. Your compliance officer knows what they're talking about. The borrower's attorney might be trying to save their client some hassle, but they're not the one who has to explain an unperfected security interest to regulators.
Smart choice. Document everything in your credit file about why UCC filing was necessary, just to cover yourself if anyone questions it later.
And make sure you file in the right state - Ohio for this borrower since that's where they're located and the equipment will be.
Join the conversation
Don't panic yet. Even if your lender missed the UCC-1 filing time limit for PMSI priority, you still have options. The security interest is valid, and you might be able to work out a subordination agreement with your other lender to restore the equipment lender's priority position.
They might if it keeps your business stable and current on all loans. A default on the equipment loan could hurt their position too if it affects your overall cash flow.
Subordination agreements are definitely possible but get complicated fast. Make sure any agreement is properly documented and filed as a UCC-3 amendment to avoid future confusion.
I'm dealing with something similar but with inventory instead of equipment. The UCC-1 filing time limit stress is real when you realize how much money is at stake based on these technical deadlines.
Inventory PMSI has even shorter deadlines in some states. Did you get yours filed in time?
Barely. Filed on day 19 of the 20-day window. My stomach was in knots until I got the acceptance notice from the Secretary of State.
Taylor Chen
For a $2.8M loan, I'd definitely recommend getting a professional UCC search done by a service company. They can parse through the Michigan system's quirks and give you a clean report.
0 coins
Keith Davidson
•That's probably overkill for a continuation filing if you have the original UCC-1 details. But for initial filings on large loans, agreed.
0 coins
Ezra Bates
•Professional searches are expensive but worth it for high-value transactions. Depends on your risk tolerance and timeline.
0 coins
Ana Erdoğan
Just make sure you file that continuation at least 6 months before the 5-year deadline. Michigan can be slow processing filings and you don't want to risk your security interest lapsing.
0 coins
Sophia Carson
•Smart approach. I always file continuations at least 60-90 days early to account for any processing delays or rejection issues.
0 coins
Elijah Knight
•Good planning. Nothing worse than scrambling at the last minute with a lapsed filing on a multi-million dollar loan.
0 coins