Need to file a UCC but confused about which form and where to start

Thank you! So UCC-1 is definitely the right form? And by exact legal name you mean like exactly as it shows on our incorporation papers?

Yes exactly - the debtor name has to match your corporate formation documents perfectly. Even small differences like missing LLC or Inc can cause problems.

This is so important! I've seen filings get rejected because someone used "John Smith Construction" instead of "John Smith Construction, LLC" as registered with the state.

That helps a lot. Is there a way to double-check everything before submitting? I'm paranoid about making a mistake.

Actually yes - I recently discovered this tool called Certana.ai that lets you upload your corporate documents and UCC forms as PDFs and it automatically checks for name mismatches and other inconsistencies. Super helpful for catching those debtor name issues before filing.

Oh that sounds useful! I usually just triple check everything manually but automated verification would save time.

I'm not sure... maybe I misunderstood? The loan officer just said "make sure the UCC gets filed" so I assumed that meant we had to do it.

Some lenders do ask borrowers to file, especially smaller banks or credit unions. It's not that unusual. Just depends on their internal procedures.

I guess but seems like extra work for the borrower when the lender has more experience with these filings.

Good point. We're getting a CNC machine and some other stuff. Should I list the serial numbers too?

Serial numbers can help but aren't required for the UCC-1. Just make sure the description is clear enough to put other creditors on notice of what's encumbered.

Tell me about it. I had a filing get rejected once because of a tiny formatting issue that wasn't clear from the instructions.

This is exactly why I started using that Certana tool I mentioned earlier. Upload your docs and it flags potential issues before you submit to the state. Saved me so much frustration.

Thanks! Did you have any issues with the name matching? That seems to be what everyone's worried about.

No issues but I was super careful about getting the exact name from our Articles of Incorporation. That's the key.

The equipment will be bolted down in our facility. Does that make it a fixture?

Possibly but fixture filings are more for things that become part of the real estate. Manufacturing equipment usually stays as personal property even if bolted down. Check with your lender to be sure.

Yeah fixture filings are a whole different thing. You'd file those in the real estate records, not just the UCC records.

Thanks everyone! This has been super helpful. I feel way more confident about tackling this now.

Yikes that sounds bad. When does it need to be filed? The loan closes next week.

Ideally before or right after closing. Don't wait too long because other creditors could potentially jump ahead if you delay.

Exactly - the filing date determines priority if there are competing security interests in the same collateral.

That's a great suggestion! I didn't know you could search existing filings.

Yep just go to the PA Dept of State website and look for UCC search. It's public record so you can see all filings.

5 years? I had no idea they expired. Good to know for planning purposes.

Yeah and you can only file the continuation in the last 6 months before expiration. Missing that deadline means the security interest lapses.

Another thing Certana helps with actually - it can track your filing dates and send reminders for continuation deadlines. Pretty handy for staying on top of that stuff.