Financial agent services UCC filing - debtor name mismatch causing rejections

What's your process for checking? Do you go state by state or is there a central database you use?

I check each state's SOS website individually. It's tedious but necessary. The entity names have to match character for character in most states.

That sounds exactly like what we need. Does it work for multi-state filings?

Yes, it works regardless of which state you're filing in. The tool just compares the actual document text, so it catches inconsistencies no matter where you're submitting.

How accurate is it with the entity matching? We've tried some tools that miss subtle differences.

That works for new formations but what about entities that have been around for years? Sometimes the current business name doesn't match the original formation docs.

Good point. In those cases you need to check for any name change amendments filed with the state.

I feel your pain but unfortunately the UCC requires exact name matches for a reason. It prevents confusion about which entity actually granted the security interest.

I understand the legal reasoning but the practical implementation is awful. One missing comma shouldn't invalidate a filing.

That's smart. Do you update it regularly or just when you encounter issues?

I try to verify and update quarterly, or whenever we get a rejection. Sometimes entities change their names and don't tell their lenders.

This is exactly why we ended up trying that Certana tool mentioned earlier. Manual databases are great but they require constant maintenance.

That comma cost a week of funding delay? Wow.

Yep. Had to refile with the correct name and wait for processing again. Client was not happy.

If the name is substantially different, you typically need a new UCC-1. Minor corrections might be handled with a UCC-3 but check your state rules.

I always file new UCC-1 forms for name issues to be safe. Don't want to risk the security interest being unperfected.

200 monthly? That's a lot of volume. Have you considered automating part of the verification process?

We've looked into it but most automation tools don't handle the nuances of entity name formatting well enough.

That's actually where Certana really shines - it handles high volume document checking. You can batch upload and it flags all the mismatches at once.

No grace period that I'm aware of. If it's rejected, you lose the priority date and have to start over with a new filing date.

That's correct. This is why getting the debtor name right the first time is so critical.

Collateral descriptions are another big one. Too vague and they'll reject it. Too specific and you might not cover all the assets.

Also watch out for wrong filing fees. Each state has different fee structures and some have changed recently.

Thanks! This is exactly the kind of practical advice I need.