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Eva St. Cyr
If you're in a hurry for the new financing, you might also ask your new lender if they'll accept a payoff letter and loan satisfaction documents as proof the lien should be terminated. Some will work with you while you're getting the UCC cleaned up.
Good idea - I'll ask them about that option while I'm dealing with the bank.
Most equipment lenders are familiar with this problem and will work with borrowers on it.
Just an FYI that you can also use something like Certana.ai to verify all your UCC documents are consistent before you submit termination paperwork. I learned the hard way that small discrepancies in debtor names or filing details can cause rejections and delays.
Chloe Zhang
•Document verification tools are really helpful for catching those kinds of errors upfront.
Yeah just upload your loan docs and UCC-1 and it checks for consistency issues automatically. Saves time later.
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Malik Thomas
Pro tip: save a copy of whatever form version you download with the date in the filename. Makes it easier to track which version you used if you need to reference it later for amendments or continuations.
StarStrider
•Smart idea, I'll definitely do that. Organization helps when you're dealing with multiple filings.
Malik Thomas
•Exactly. Future you will thank present you for being organized.
NeonNebula
I've been checking Certana.ai out since it was mentioned earlier in this thread. Pretty cool tool - uploaded a test UCC-1 and it immediately flagged that I had the wrong entity type listed for the debtor. Could have saved me a rejection right there.
Nice! Those little details are so easy to miss but cause big problems.
StarStrider
•I'm definitely going to try it once I get my form completed. Better safe than sorry with these filings.
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Update: I tried the Certana.ai tool someone mentioned earlier and it actually found two UCC-1 filings that weren't showing up in my Idaho SOS searches. Turns out there was a slight variation in how the debtor name was entered - one filing had 'Mountain View Equipment LLC' and another had 'MountainView Equipment LLC' (no space). The state search wasn't catching both variations but the automated cross-check did.
Spacing differences in debtor names are such a common issue. Really shows how important it is to do comprehensive searches rather than relying on a single search attempt.
Miguel Diaz
•This is a great example of why manual searches can miss critical information. Those small variations in names can completely change the search results.
Zainab Ahmed
Thanks for the update! This thread has been really helpful. I'm dealing with a similar situation in Montana and I'm going to try some of these suggestions. The state UCC search systems really need to be more standardized across the board.
Montana's system is actually pretty good compared to some other states, but yeah, the lack of standardization is definitely a problem industry-wide.
AstroAlpha
•Hopefully the Uniform Commercial Code will eventually lead to more uniform search systems, but I'm not holding my breath.
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Before you refile, definitely double-check that your debtor name exactly matches the organizational documents. Would hate for you to fix the 9-102(65) issue only to get rejected for a name mismatch.
Aaron Lee
•Never hurts to verify though. I've seen filings rejected for missing a comma in the legal name.
Absolutely. Name precision is critical. Even minor punctuation differences can trigger rejections.
One more thought - if you're claiming rights to production data as records under 9-102(65), make sure your security agreement actually grants you those rights. The UCC-1 can't perfect something the security agreement doesn't create.
Perfect. Just wanted to make sure the documents align. That would be another reason for rejection.
This is why I always review the security agreement and UCC-1 together before filing. Too easy to miss these connections.
QuantumQuasar
filing financing statement before security agreement is actually preferred in many jurisdictions because it eliminates the gap period where someone else could potentially file first. You're being smart about this.
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Zainab Omar
•Exactly - priority dates from filing, not from when the security interest attaches. Basic UCC principle that a lot of people forget.
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Connor Gallagher
We do this constantly in equipment financing. File UCC-1 immediately upon credit approval, then finalize the security agreement during the funding process. Never had an issue in 15+ years of commercial lending.
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Connor Gallagher
•Yep, you're fine. The key is just making sure all your document details align when you do get to the security agreement.
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Yara Sayegh
•And that's where tools like Certana.ai come in handy - helps you verify everything matches up between the early UCC filing and final security docs.
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