UCC Document Community

Update us when you get this resolved! I'm dealing with a similar situation with a different lender and curious how it turns out.

I've been through this exact scenario multiple times in my finance career. Two months is definitely excessive for a straightforward loan payoff, especially at that dollar amount. Here's my suggested action plan: 1) First, use that Certana.ai tool everyone's mentioning to verify there isn't already a termination filed under a variant of your company name, 2) If nothing shows up, send a formal demand letter citing Texas Business and Commerce Code Section 9.513 which requires termination within 20 days of payoff, 3) Include a copy of your payoff receipt and mention potential regulatory complaints. I've seen this approach work consistently. The key is being professional but firm about the legal requirements. Most lenders will prioritize your file once they realize you understand the statutory framework.

For what it's worth, I think you're overthinking this. Mobile construction equipment is pretty straightforward UCC-1 territory unless there are titles involved. File the UCC-1 with a good collateral description and you should be fine. The non UCC filings are for different types of property altogether.

One thing I haven't seen mentioned yet is timing - UCC filings are generally effective immediately upon filing, but some non-UCC filings have different effective dates or require additional steps. For your construction equipment deal, once you file the UCC-1 it should show up in searches within a day or two (depending on your Secretary of State's processing time). That might help answer your client's question about when the lien will be visible. Also, make sure you're prepared for continuation filings down the road - UCC-1s need to be continued every 5 years or they lapse.

Update - we refiled using 'all inventory, including raw materials, work-in-process, finished goods, and goods held for sale' and it was accepted! Thanks everyone for the help. The UCC definition was never the issue, just needed more descriptive language for the filing office. Credit line approved and we're back in business.

Great to see this resolved! This is exactly why I always recommend being more descriptive with collateral descriptions from the start. The UCC definition of inventory under 9-102 is clear - it includes goods held for sale or lease, raw materials, work in process, and materials consumed in business. Your wholesale distribution business obviously falls under this definition. But filing offices often want that extra clarity in the language. I typically use something like "all inventory of every kind and description, now owned or hereafter acquired, including without limitation raw materials, work-in-process, finished goods, and goods held for sale or lease" - it's comprehensive and covers all the bases while hitting the magic phrases that make filing officers happy.

Update us when you get it filed! Always helpful to know what actually worked for future reference.

I've dealt with this exact confusion before! The "addendum form" terminology is misleading - there's typically no separate form. What worked for me was using the standard UCC-3 amendment form, checking the box for "add collateral" in section 5, and then attaching continuation sheets labeled "Addendum A" or "Exhibit A" with the detailed equipment descriptions. Most states accept this format without issue. Just make sure to reference your original UCC-1 filing number on every page and keep your equipment descriptions specific enough to be enforceable but broad enough to cover variations in model numbers or replacements. Given your tight timeline, I'd recommend preparing the filing this way and submitting it rather than continuing to chase down a form that likely doesn't exist.

UPDATE: Ran UCC searches on both names. Only the original "Industrial Steel Processing Corp" filing shows up, no amendments. Going to file the UCC-3 termination using the exact original debtor name and filing number. Thanks for the guidance everyone - this could have been a costly mistake if I'd tried to use the current LLC name.

Great to see this resolved! For future ISPC deals or similar entity name change situations, I'd recommend documenting the UCC search results in your file. Shows due diligence was done and protects against any questions later. With $2.8M equipment deals, that paper trail is worth its weight in gold if title issues ever come up down the road.