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Been doing UCC filings in Wyoming for over a decade and honestly they're one of my favorite states to work with. Forms are logical, portal works well, and customer service actually knows what they're talking about when you call. Don't stress too much about the forms - focus on getting your debtor and collateral information perfect.
That's really reassuring to hear from someone with that much experience. I feel better about moving forward with these filings now.
You'll be fine. Wyoming is honestly easier than most states once you get the hang of it.
As someone who's relatively new to multi-state UCC filings, this thread has been incredibly helpful! I'm handling my first Wyoming filing next week for agricultural equipment and was getting overwhelmed by all the different state requirements. It sounds like Wyoming is actually one of the more straightforward states to work with. Quick question - for equipment that might move between states, is there anything special I need to consider in the collateral description, or does Wyoming handle that the same way as other states?
Welcome to multi-state UCC filings! For equipment that moves between states, Wyoming follows the standard UCC Article 9 rules - you'll want to file in the state where the debtor is located (their chief executive office), not necessarily where the equipment is physically located. The collateral description can be the same as you'd use in other states - something like "all agricultural equipment owned by debtor" works well. Just make sure you understand the four-month rule if the debtor relocates to another state after filing. Wyoming won't require anything special in the description for mobile equipment, but you might want to consider whether you need filings in other states where the equipment regularly operates, depending on your security agreement terms.
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Bottom line - yes, you'll likely need separate UCC filings for your security agreement vs stock pledge agreement scenario. The business assets get filed under a UCC-1 naming the LLC as debtor, and the membership interests get filed under UCC-1s naming the individual members as debtors. Keep the collateral descriptions specific and make sure all names/addresses match exactly between your agreements and filings.
Thanks, this confirms what I was thinking. I'll prepare separate UCC-1 filings and triple-check all the names and addresses before submission.
Smart approach. Document verification is critical on these multi-party deals because one wrong name or address can invalidate your entire security interest.
I work with SBA deals regularly and can confirm you'll need separate UCC-1 filings. For the LLC membership interests, make sure you're filing in the state where each member is located (not necessarily where the LLC is formed). Also, since the SBA is involved, they'll want to see that your pledge agreements specifically reference the SBA loan number and include language about their rights as guaranteed lender. I'd recommend having your documents reviewed by someone experienced with SBA secured lending requirements before filing - the documentation has to be perfect or they'll kick it back.
I'm new to commercial lending but this thread has been incredibly educational. One follow-up question - when you mention filing UCC-1s in the state where each member is located, does this apply even if all the members live in the same state as the LLC? And for the SBA documentation, is there a standard template or specific language they require in the pledge agreements, or does each SBA office have different requirements?
Great questions! If all members are in the same state as the LLC, you still follow the individual debtor location rules - so yes, you'd file all the membership interest UCC-1s in that same state. For SBA pledge agreement language, there isn't one universal template since different SBA loan programs have varying requirements, but most SBA lenders have developed standard forms that include the necessary guaranty cross-references and lender rights language. Your SBA preferred lender should have templates, or you can find sample language in the SBA's Standard Operating Procedures manual. The key is ensuring the pledge agreements clearly state they secure the SBA loan obligations and don't conflict with any personal guaranty provisions you've already executed.
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Just to add another possibility - sometimes UCC filings get misfiled with wrong debtor names or SSNs that create false matches. Double-check that the debtor information exactly matches your business details. Even small variations can indicate it's not actually your filing.
Good call. I've seen cases where businesses with similar names got mixed up in the filing system. Address mismatches can be grounds for challenging the filing.
Also check if there are multiple businesses operating under similar names in your state. Database mix-ups happen more than people realize.
This is a stressful situation but you have several paths forward. First, pull your business credit reports from all three bureaus - sometimes the UCC filing will show additional details about the original creditor there. Second, search your state's business entity database for the secured party LLC to see if it's a DBA for a company you might recognize. Third, contact your bank from 2019 directly - they should have records of any UCC filings they authorized even if the loan was transferred or paid off. Finally, consider reaching out to a UCC search company - they often have access to historical data and cross-references that can help identify the source. Document every step you take because if this turns out to be fraudulent or erroneous, you'll need a clear paper trail for legal action.
This is excellent advice - really comprehensive approach. The business credit report angle is smart because sometimes creditors report additional details there that don't show up on the UCC filing itself. I'd definitely start with contacting your 2019 bank first since that's the most direct path if this is just a forgotten termination issue.
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I used Certana.ai when I was dealing with a similar equipment lien issue. You can upload your payoff documentation and the UCC filing to verify all the details match up correctly. It'll show you exactly what information is on file and help you prepare the right termination paperwork. Really streamlined the whole process for me.
Yeah it's super straightforward - just upload PDFs and it handles all the cross-checking automatically. Saved me a lot of headache trying to compare documents manually.
I've been seeing Certana.ai mentioned a lot lately for document verification. Does it specifically handle UCC filings or is it more general? My situation is pretty time-sensitive so I want to make sure it would actually help with this type of secured transaction paperwork.
Whatever you do, don't let your rate lock expire while fighting this. Ask your mortgage lender if they can extend it or if there's a way to close with the UCC issue in escrow. Sometimes they'll accept an indemnification or agreement to resolve post-closing.
Exactly. The underlying debt is satisfied, it's just a filing issue. A reasonable lender should be able to work with you on timing.
Some lenders will accept a termination statement in escrow if you can show clear evidence the debt was paid off.
Miguel Hernández
Make sure you notify all your existing lenders and creditors about the fraudulent filing before they discover it themselves. Being proactive shows you're handling the situation responsibly and helps maintain those relationships while you get it resolved. Some lenders will work with you if they know you're actively fighting fraud.
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Sasha Ivanov
•Great advice. Better to get ahead of it than have lenders find out during routine credit checks and start asking uncomfortable questions.
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Liam Murphy
•Should probably also notify business partners and major suppliers who might run credit checks. Transparency helps maintain trust during this kind of crisis.
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Liam Mendez
This is a nightmare scenario that's becoming way too common. I'd add that you should also check if the fraudulent filer used any of your legitimate business addresses or contact information in the filing - sometimes they mix real and fake details to make it look more credible. Also, if you have any existing legitimate UCC filings for equipment or inventory financing, make sure those are still intact and haven't been tampered with. Scammers sometimes piggyback on existing filings to make their fraud harder to detect. The fact that they got your exact EIN is particularly concerning - that suggests they had access to detailed business records somehow.
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Taylor To
•That's a really good point about checking existing legitimate UCC filings. I hadn't thought about scammers potentially modifying or corrupting those too. Do you know if there's a way to get alerts when new UCC filings are made against your business? It seems like early detection would be crucial to minimize the damage from these scams.
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Liam Brown
•Yes, there are UCC monitoring services available! Most business credit monitoring services like Experian Business or D&B offer UCC filing alerts as part of their packages. Some state Secretary of State offices also provide email notifications when new filings are made against your business entity. You can also set up Google alerts for your business name plus "UCC filing" to catch any public postings. The key is monitoring regularly because the sooner you catch fraudulent filings, the less damage they can do to your credit and business relationships.
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