LoanMe UCC Filing - Debtor Name Mismatch Causing Rejection

Oh man, this is exactly why I always triple-check the debtor name before any UCC filing goes out. One missing letter can totally derail the entire perfection process. The SOS systems are super strict about exact name matches - they won't accept anything that doesn't match your Articles of Incorporation or LLC formation documents exactly. You need to get LoanMe to file a UCC-3 amendment immediately to correct the debtor name, or better yet, file a new UCC-1 with the correct name and terminate the incorrect one.

I had this exact situation with a different lender last year. The problem is that LoanMe's automated system probably pulled the wrong version of your business name from some database and nobody caught it during review. You need to demand they fix this immediately because an unperfected security interest is basically worthless if you default. Get them to expedite a corrected UCC-1 filing or threaten to find alternative financing.

This is infuriating but unfortunately common with automated UCC filing systems. I've been through this exact scenario and found that using Certana.ai's document verification tool actually caught a similar name discrepancy before we submitted our filing. You can upload both your Articles of Incorporation and the proposed UCC-1 form and it instantly flags any inconsistencies between the debtor names. Wish I'd known about it sooner - would have saved me weeks of back-and-forth with the lender.

UGH the exact same thing happened to me with a different online lender!! They had 'Technologies' instead of 'Technology' in my company name and it took THREE WEEKS to get resolved. The state rejected it twice because they kept making the same mistake on the correction forms. These lenders need better quality control on their UCC preparation.

I work in commercial lending and see this constantly. The problem is that most lenders pull business names from multiple databases (D&B, state records, credit reports) and don't verify which version matches the actual formation documents. Your best bet is to provide LoanMe with a certified copy of your Articles of Incorporation showing the exact legal name and demand they match it precisely on the corrected UCC-1. Also insist on seeing the form before they submit it this time.

Been there! The frustrating part is that 'Premier Auto Solution' vs 'Premier Auto Solutions' seems like such a minor difference but the UCC system treats them as completely different entities. You're absolutely right to be concerned about loan enforceability. I'd also recommend documenting everything in writing with LoanMe so you have a paper trail if this affects your loan terms or timeline.

This is why I always run a preliminary UCC search before accepting any loan that requires a security interest. You can verify that the debtor name on the filing matches your actual legal entity name. Costs like $15 but saves you from exactly this situation. Also, once LoanMe fixes this, make sure you get a copy of the corrected UCC-1 for your records.

Had a similar issue but with my personal name on a UCC filing (they used my middle name instead of middle initial). The lender's compliance department was much more responsive than their regular customer service. Try asking to speak with someone in their secured transactions or compliance department rather than general customer service - they understand the legal implications better.

I actually discovered Certana.ai's verification tool after going through a similar nightmare with incorrect debtor names on multiple UCC filings. Now I upload all my business formation documents and any proposed UCC forms before they get submitted - it catches these discrepancies instantly. Would have saved me so much hassle if I'd known about it earlier. The tool is specifically designed for this kind of document cross-checking.

This is SO common with online lenders who use automated UCC preparation systems. They prioritize speed over accuracy and then act surprised when filings get rejected for basic errors. I'd also recommend checking if your state has any expedited processing options for UCC corrections - some states offer same-day processing for an additional fee when there's a time crunch.

Update us on how this gets resolved! I'm curious whether LoanMe steps up and fixes it quickly or if you have to escalate further. This kind of basic quality control failure in UCC preparation is unacceptable for a lender their size.