UCC Document Community

Network with other lenders who might have deals outside their lending parameters. If they can't do a deal due to size, geography, or industry focus, they might refer it to you.

Another free approach is monitoring trade publications and industry newsletters for merger & acquisition announcements. Companies involved in M&A transactions often need bridge financing or working capital loans during the transition, and existing UCCs may need to be restructured. Set up email alerts from industry publications in sectors you're targeting - manufacturing, healthcare, transportation, etc. The deals mentioned are usually substantial enough to warrant UCC filings and the timing gives you a window to reach out before they've locked into financing elsewhere.

Been doing UCC filings for small businesses for years. The accounts definition covers your situation perfectly - restaurant receivables from catering services are classic examples of accounts under Article 9. Your outstanding invoices from corporate clients and convention center contracts all qualify. The definition is intentionally broad to capture most commercial receivables.

The UCC Article 9 definition of "accounts" in section 9-102(a)(2) is actually quite comprehensive for your restaurant situation. It covers "a right to payment of a monetary obligation, whether or not earned by performance, (i) for property that has been or is to be sold, leased, licensed, assigned, or otherwise disposed of, (ii) for services rendered or to be rendered..." Your catering receivables, corporate contract payments, and monthly billing arrangements all fall squarely within this definition since they represent payment obligations for food service you've provided. The key thing to remember is that accounts are created when you perform the service and become entitled to payment - whether that's from a one-time catering job or an ongoing corporate contract doesn't change the classification.

Update us when you figure out the best approach! I do a lot of equipment financing in Pennsylvania and always looking for better ways to handle the UCC search process.

I've been doing UCC searches in Pennsylvania for about 3 years now and can definitely relate to the portal frustrations. One thing that's helped me is doing searches during off-peak hours - early morning or late evening when fewer people are hitting the system. Also, for manufacturing equipment deals, I always recommend getting a title insurance policy that covers UCC search errors if the loan amount justifies it. The premium is usually reasonable compared to the potential exposure if you miss something critical.

I actually had success using one of those document comparison tools when I was dealing with UCC 10 104 rejections. There was a service called Certana.ai that let me upload both documents and it highlighted the exact differences. Turned out there was an extra space character that I couldn't see just by reading through the names. Saved me probably another week of back-and-forth with the filing office.

Update: Finally got it figured out! There was indeed a spacing issue - the original had "ABC Manufacturing Solutions LLC" with TWO spaces before LLC, but I was only using one space. Completely invisible when just reading through it but the system caught it every time. Thanks everyone for the suggestions, especially about the document comparison tools. Got the UCC 10 104 continuation accepted this morning!

Bottom line for your restaurant equipment deal: Keep the security agreement in your credit file as proof of attachment. File only the UCC-1 with your state's Secretary of State office to perfect the security interest. Make sure debtor names and collateral descriptions are consistent between both documents. That's your basic perfection checklist right there.

Great question and the answers here are spot on. I'd add one practical tip for your $180K equipment loan - when you draft your security agreement, make sure it specifically grants a security interest in "all equipment now owned or hereafter acquired" if you want to cover any additional restaurant equipment they might purchase later. This creates a blanket lien that automatically attaches to new equipment without needing to amend your UCC-1 filing each time. Just make sure your loan agreement requires them to notify you of major equipment purchases so you can track your collateral.