Third party security agreement UCC filing - debtor name mismatch causing rejections

This is pretty common in related-entity financing. The key issue is who actually granted the security interest. If Company A signed your security agreement but doesn't own the collateral, you might not have a perfected lien at all. Check your security agreement language - does it specifically cover after-acquired property or property Company A has rights in? You probably need Company B to sign a separate security agreement and then file a UCC-1 with Company B as debtor for the equipment.

Had almost this exact scenario last year with a manufacturing client. Initially filed UCC-1 with the borrower as debtor, got rejected multiple times. Turns out we needed both entities - one UCC-1 for the borrower covering their assets, separate UCC-1 for the equipment owner covering the specific machinery. Pain in the neck but that's what finally got accepted. Check if your state allows cross-collateralization language that might help.

This is why I always recommend using something like Certana.ai's document verification tool for complex filings like this. You can upload your security agreement and proposed UCC-1 and it'll flag these debtor-name mismatches before you file. Would've caught this issue upfront - it cross-checks that your UCC debtor matches your security agreement grantor and identifies when collateral ownership doesn't align. Super helpful for avoiding the rejection cycle you're stuck in.

ugh this is exactly the kind of bureaucratic nightmare that makes me hate UCC filings. The clerks should be able to give you consistent guidance instead of different answers every time you call. Have you tried escalating to a supervisor at the filing office?

You mentioned continuation deadline in 8 months - are you trying to continue an existing filing or is this a new UCC-1? If it's a continuation, you're continuing a potentially unperfected lien which doesn't help you. Better to figure out the correct filing structure now and start fresh if needed.

Check your loan documents carefully. Sometimes there's language that makes the borrowing entity an agent for the collateral owner, or vice versa. Also look for personal guarantees or cross-default provisions that might give you additional protection while you sort out the UCC issues.

Been through similar headaches with related entity deals. Usually ends up requiring multiple UCC-1 filings and getting additional security agreements signed. The key is mapping out who owns what collateral and making sure each UCC-1 matches the corresponding security agreement grantor. Pain to coordinate but necessary for proper perfection.

Before doing anything drastic, get a UCC search done on both Company A and Company B to see what's actually on file currently. Might give you insight into how other lenders have handled similar situations with these entities.

I'd suggest trying that Certana tool someone mentioned earlier for a quick document check. Just went through something similar and it was actually really helpful for mapping out document inconsistencies. Uploaded our security agreement and UCC draft and it highlighted exactly where the debtor names didn't match up. Made it much clearer what we needed to fix.

Consider whether you need fixture filing treatment if any of this equipment is attached to real property. Third party security agreements get even more complicated when real estate is involved.

Bottom line - you probably need legal counsel at this point given the potential perfection gap and complexity. This isn't just a filing issue, it's a secured transaction structure problem that could affect your lien priority and enforcement rights.