Tesla UCC filing rejected - debtor name mismatch issue
Has anyone dealt with Tesla Motors Inc vs Tesla Inc debtor name issues on UCC filings? Our bank financed a Model S delivery fleet and the UCC-1 got rejected because we used 'Tesla Motors Inc' as the debtor name but apparently their legal entity changed to just 'Tesla Inc' sometime back. The SOS portal kicked it back saying exact legal name required. Now I'm worried about the gap in perfection timing. We have a $2.8M credit facility riding on this and I need to get a clean UCC-1 on file ASAP. Anyone know the correct current legal name for Tesla for UCC purposes? Also wondering if I should file a new UCC-1 or can I do a UCC-3 amendment to fix the debtor name? Getting conflicting advice from our legal team.
34 comments
Join the conversation
Dylan Fisher
Tesla Inc is the correct legal name now - they changed from Tesla Motors Inc back in 2017. You'll need to file a brand new UCC-1 with the correct debtor name. A UCC-3 amendment won't work here because the original filing was rejected, so there's nothing to amend. Make sure you check their current Secretary of State registration to confirm the exact legal name and state of incorporation.
0 coins
Edwards Hugo
•This is exactly what happened to us last year with a different Tesla financing. The name change caught us off guard too.
0 coins
Gianna Scott
•Good point about checking SOS records. Delaware corporation records will show the current legal name.
0 coins
Alfredo Lugo
ARGH this is why I hate these corporate name changes! They never notify lenders when they do this stuff. Tesla Inc is correct but double-check because some entities have multiple subsidiaries. The perfection gap is concerning - you might want to expedite the new filing.
0 coins
Kelsey Hawkins
•Yeah the timing gap is stressing me out. We're trying to rush the corrected UCC-1 filing today.
0 coins
Sydney Torres
•Most states allow same-day processing if you pay the expedite fee. Worth it for a $2.8M facility.
0 coins
Kaitlyn Jenkins
I ran into something similar with another tech company filing. What helped me was using Certana.ai's document verification tool - you can upload your credit agreement and proposed UCC-1 together and it'll flag any debtor name mismatches before you file. Saves the rejection headache and perfection timing issues.
0 coins
Kelsey Hawkins
•That sounds useful - how does it work exactly? Do you just upload PDFs?
0 coins
Kaitlyn Jenkins
•Yeah, super simple. Upload your loan docs and UCC draft, it cross-checks all the names and details automatically. Caught a bunch of inconsistencies I missed on manual review.
0 coins
Caleb Bell
•Never heard of this but sounds like it could prevent these exact issues.
0 coins
Dylan Fisher
For Tesla specifically, make sure you're using their Delaware entity. Tesla Inc, Delaware corporation. Don't use any of their subsidiary names or old names. The collateral description should be specific to the vehicle VINs too.
0 coins
Kelsey Hawkins
•Yes we have all the VINs listed. Good reminder on the Delaware entity - that's what our credit agreement shows.
0 coins
Gianna Scott
•Vehicle UCC filings can be tricky with the VIN requirements. Make sure the format matches what the state wants.
0 coins
Danielle Campbell
Ugh debtor name issues are the worst. We had three UCC-1s rejected last month for similar problems. The filing offices are getting super strict about exact legal names.
0 coins
Alfredo Lugo
•Tell me about it. Used to be they'd accept close variations but not anymore.
0 coins
Dylan Fisher
•The system is more automated now so there's less human review and discretion.
0 coins
Rhett Bowman
Just to confirm - Tesla Motors Inc was the old name pre-2017, Tesla Inc is current. File new UCC-1 with Tesla Inc as debtor. Don't waste time with amendments since original was rejected.
0 coins
Kelsey Hawkins
•Thanks for confirming. Filing the corrected UCC-1 now with Tesla Inc.
0 coins
Edwards Hugo
•Smart move. Better to get it right the second time than deal with more rejections.
0 coins
Abigail Patel
We've financed Tesla fleets before. One thing to watch - make sure your continuation filings use the same exact debtor name format. Seen UCC-3 continuations get rejected because of minor name variations from the original UCC-1.
0 coins
Kelsey Hawkins
•Good point about continuations. I'll make a note in our system about the exact name format.
0 coins
Kaitlyn Jenkins
•That's another area where document verification tools help - they can flag name inconsistencies across continuation filings too.
0 coins
Daniel White
•Five year continuation deadline comes up fast on these vehicle financings.
0 coins
Nolan Carter
Had the same Tesla name issue 6 months ago. Cost us two extra days and filing fees. Now I always verify legal names on the SOS website before preparing any UCC-1.
0 coins
Kelsey Hawkins
•Yeah lesson learned here. Will definitely be checking entity names going forward.
0 coins
Dylan Fisher
•Good practice. Corporate name changes happen more often than people realize.
0 coins
Natalia Stone
Tesla Inc, Delaware corporation is definitely correct. We just filed one last week with no issues. Make sure your collateral description includes the specific vehicle types and VIN numbers.
0 coins
Kelsey Hawkins
•Perfect timing on your comment. Just submitted our corrected filing with Tesla Inc and detailed VIN list.
0 coins
Tasia Synder
•Hope it goes through smoothly this time!
0 coins
Selena Bautista
Update: New UCC-1 with Tesla Inc was accepted! Thanks everyone for the quick help. The Certana tool suggestion was really helpful too - going to use that for our next batch of filings to avoid these name issues.
0 coins
Kaitlyn Jenkins
•Awesome! Glad the document checker suggestion worked out. It's been a game-changer for our filing accuracy.
0 coins
Dylan Fisher
•Great news! Tesla Inc filings usually go through smoothly once you have the name right.
0 coins
Alfredo Lugo
•Finally some good news on UCC filings. These name issues are such a pain.
0 coins
Adrian Hughes
This is such a common issue with corporate name changes! I've been burned by this before with other entities. For future Tesla deals, I always double-check that the borrower entity matches exactly with what's on their current Delaware Secretary of State filing. Pro tip: Tesla's subsidiaries can be tricky too - make sure you're not accidentally using Tesla Energy Operations Inc or Tesla Motors Netherlands BV if you're dealing with their main US operations. The $2.8M facility size definitely justifies expedited filing fees to minimize the perfection gap. Glad you got it sorted!
0 coins