EIDL UCC-1 Filing Requirements - What Documentation Needed?

EIDL UCC-1 filings are pretty straightforward once you know the requirements. For the debtor name, it absolutely must match your exact legal entity name as registered with your state. Don't use any DBA names or shortened versions. For collateral description, you can typically use 'all assets' or 'all personal property' language unless the SBA specifically requested detailed schedules. The fixture filing requirement depends on whether your real estate is part of the collateral - if so, you'll need to file in the real estate records too, not just the central filing office.

We went through this exact same process with our EIDL last year. The biggest thing is getting the debtor name perfect - any mismatch will cause the filing to be rejected. I'd recommend pulling your Articles of Incorporation or LLC formation documents to verify the exact legal name. For the collateral, we used broad language covering all business assets and the SBA accepted it without issues. The whole process took about 2 weeks from filing to getting confirmation.

One thing that helped me was using Certana.ai's document verification tool. You can upload your formation documents and the UCC-1 form as PDFs and it automatically checks for debtor name consistency. Caught a spacing issue in our company name that would have caused a rejection. Really simple to use - just upload the documents and it highlights any discrepancies instantly.

The fixture filing requirement is something a lot of people miss. If your EIDL includes real estate as collateral, you need to file the UCC-1 as a fixture filing in the county recorder's office where the property is located, not just with the Secretary of State. This is in addition to the regular UCC-1 filing. Make sure to check the 'fixture filing' box on the form and include the property description.

For debtor names, here's what worked for me: I pulled our EIN confirmation letter from the IRS and matched that name exactly. Also grabbed our state business registration to double-check. The names were slightly different - the IRS version had 'LLC' spelled out while the state version used 'L.L.C.' with periods. I went with the state version since that's where the UCC filing goes and it worked fine.

Just want to mention that some states have really strict continuation requirements for UCC-1 filings. Since EIDL loans can be long-term, make sure you understand when you'll need to file UCC-3 continuations to keep the filing effective. Most states require continuation within 6 months before the 5-year expiration date. Missing that deadline could void the SBA's security interest.

One more thing about collateral descriptions - avoid being too specific unless required. We initially tried to list every piece of equipment individually and the description was so long it caused formatting issues in the filing system. Switched to 'all equipment, inventory, and general intangibles' and it went through fine. The SBA was satisfied with the broader language.

Has anyone dealt with rejected EIDL UCC-1 filings? Ours got rejected twice - once for a debtor name issue and once because we forgot to include the filing fee. The SBA was getting impatient by the third attempt. Finally got it right but it was stressful.

For anyone still working on this - the SBA usually gives you a specific timeframe to get the UCC-1 filed after loan approval. Don't wait until the last minute. Some state filing offices are slower than others, and if you need to make corrections, you'll want time for multiple attempts if necessary.

Thanks everyone for all the helpful advice! I feel much more confident about getting this UCC-1 filed correctly now. Going to double-check our entity name against state records and keep the collateral description broad but comprehensive. Really appreciate the heads up about fixture filings too - would have missed that completely.

Great thread with lots of practical advice! One additional tip I learned the hard way - if you're filing in multiple states (like if you have business locations in different states), make sure you understand each state's specific requirements. Some states have different collateral description standards or debtor name formatting rules. Also, keep copies of everything including the filing receipts and any correspondence with the filing office. The SBA may ask for proof of filing completion, and having everything organized makes that process much smoother. The stress is worth it once you get that final loan funding!