Business UCC Filing Name Mismatch - Entity Formation vs Loan Documents

Agree with this approach. I've seen too many business filings get rejected because someone used the loan doc version instead of the state registration version. Always go with what's filed with the Secretary of State for the entity name.

Wait, but what if the loan agreement specifically references the version with the comma? Wouldn't that create issues with the security agreement being tied to a different entity name than what's on the UCC?

Good point about the security agreement connection. In practice, minor punctuation differences like this usually don't void the security interest as long as the entity is clearly identifiable. But you're right that it's cleaner to have everything match.

That sounds really helpful actually. How accurate is it with catching business entity name variations? I'm worried about missing something subtle that could cause problems later.

It's pretty thorough - catches punctuation differences, abbreviations, "LLC" vs "L.L.C." type issues. For business UCC filings it cross-references against common entity naming patterns. Much better than trying to manually compare multiple documents.

I feel this so much. Had a client where the bank used three different variations of their business name across different loan documents. Made the UCC filing a nightmare.

It's because half the time the loan officers don't even look at the actual state filings when they're doing the paperwork. They just wing it based on how the business owner wrote it on the application.

Good idea - I hadn't thought to test the search function first. That would definitely show me how sensitive their system is to the comma difference.

This is smart. I've found that states with newer UCC systems tend to be pickier about exact matches, while older systems sometimes have more flexibility built in.

Exactly. Plus if you find existing UCC filings for your business under one version or the other, that gives you a precedent to follow.

Yes! And most states let you download certified copies online now instead of waiting for mail. Usually costs like $10-20 but worth it for the peace of mind on business filings.

I can actually pull that from our state's business portal. Should have thought of this first instead of going in circles about which document to trust.

Oh wow, I didn't even think about the perfection gap issue. That could be a real problem if there are other creditors involved or if the business has multiple loans.

Right, especially with business debtors where there might be multiple lenders or equipment financiers. Much cleaner to get it right the first time.

This is why I always tell clients to double-check business entity names before we submit anything. The stakes are higher than with individual debtors.

That's not a bad idea, though they're pretty eager to get this filed quickly. Not sure if they'd want to delay for document corrections.

True, but if it saves potential problems down the road with the security interest, it might be worth the short delay. Depends on how flexible they are.

Was it easy to use? I'm always skeptical of these automated tools but if it actually works for business entity verification it might be worth trying.

Yeah it was surprisingly straightforward. Just uploaded the PDFs and it highlighted all the name variations and inconsistencies automatically. Way faster than trying to manually compare everything.

Good call! That's definitely the safest approach for business UCC filings. The lender can always amend their internal documents if needed.

Smart move getting the certified copy. That eliminates any ambiguity about what the correct business entity name should be.

Glad you got it sorted out. This kind of business name consistency issue comes up more often than it should.

That's good advice. This whole situation made me realize we should probably organize our business documents better for future financing needs.

Exactly. Having everything readily accessible saves so much time when you're dealing with time-sensitive business financing and UCC filings.