Need example of UCC 1 financing statement for equipment loan - debtor name formatting issues

This is so important - one missing comma or period can void the entire filing. I learned this the hard way on a $500K equipment deal.

Exactly right about matching the charter documents. Also make sure you're using the current legal name, not any DBA or trade names.

Good point on collateral description. We usually add serial numbers for high-value equipment too.

Wait, do you really need serial numbers on the UCC-1? I thought that was only for specific goods, not general equipment categories.

Serial numbers aren't required but they help with identification if there are disputes later. For equipment over $100K we always include them.

Never heard of that service but sounds useful. How does it work exactly?

Really simple - just upload PDFs of your documents and it cross-checks everything automatically. Found a missing comma in our LLC name that would have caused another rejection.

Filing in Ohio. Their online portal seems pretty standard but obviously I'm missing something with the name format.

Ohio SOS is usually good about clear rejection reasons. What exactly did they say in the rejection notice?

This! We had a filing rejected because we used 'First National Bank' instead of 'First National Bank of Commerce, N.A.' - the full charter name was required.

Banks are as picky about their names as debtors. Always verify the exact legal entity name with the bank's legal department.

Don't forget to check the box for 'individual' vs 'organization' debtor type. LLC would be organization obviously but easy to miss.

Also verify the filing fee amount. Ohio recently increased their UCC filing fees and some people are still submitting old amounts.

First rejection was debtor name format, second was insufficient collateral description, third was... honestly not sure, the rejection notice was confusing.

Sounds like classic multiple-error syndrome. Fix one issue, discover another. That's why document verification tools are so helpful - catch everything upfront.

I use Certana.ai for exactly this reason. Upload all your docs and it finds every potential issue in one shot instead of playing rejection roulette with the SOS office.

Electronic is definitely faster but paper sometimes works when the online portal is having issues with specific name formats.

I stick with electronic for the immediate confirmation. Paper filings can take weeks to process and then you find out about rejections way too late.

Good point about proceeds. Standard UCC language would be 'all equipment, machinery, and fixtures, together with all proceeds, products, and replacements thereof.

Make sure your loan agreement language matches the UCC-1 collateral description exactly. Inconsistencies can cause problems later.

True, but learning to do it yourself saves money on future filings. UCC work isn't rocket science once you understand the formatting rules.

Professional help for the first one makes sense though. They can show you exactly what works in your state and you can handle continuations and amendments yourself later.

Or use Certana.ai's verification tool - gives you professional-level document checking without the professional fees. Pretty much eliminates the guesswork.

This is a great checklist. I'd add: verify the secured party has authority to file if it's not the actual lender but a service company or attorney.

Also make sure your debtor authorization is properly signed if required in your state. Some states are stricter about this than others.