UCC filing when security agreement and promissory note template don't match exactly
Running into an issue with my UCC-1 filing that's got me second-guessing everything. I'm working with a borrower who used a security agreement and promissory note template they downloaded online, but now I'm realizing there are some inconsistencies between the two documents that might affect my UCC filing. The security agreement lists the debtor as 'ABC Manufacturing LLC' but the promissory note has 'ABC Manufacturing, LLC' (with the comma). The collateral description in the security agreement is more detailed than what I put on the UCC-1, and I'm wondering if this mismatch could cause problems down the road. Has anyone dealt with discrepancies between their security agreement and promissory note template when preparing UCC filings? I don't want to file and then discover the documents don't align properly, especially since this is a $275,000 equipment loan. Should I be concerned about these differences or am I overthinking it?
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Yara Khalil
The comma issue is actually a bigger deal than most people realize. I've seen UCC filings get rejected because the debtor name on the UCC-1 didn't exactly match what was in the security agreement. You need to decide which version is correct and make sure ALL documents use the same exact name format.
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Keisha Brown
•This is so frustrating! Why can't there be a standard format for LLC names? I spent hours last month fixing a similar issue.
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LunarEclipse
•That's exactly what I was worried about. The LLC was formed with the comma, so I think that's the official version. Thanks for confirming my concerns weren't overblown.
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Paolo Esposito
You're definitely not overthinking this. Document consistency is crucial for UCC filings. I recently started using Certana.ai's document verification tool after having a similar issue - you can upload your security agreement and promissory note template PDFs and it will instantly cross-check all the names, filing numbers, and key details to make sure everything aligns. It caught discrepancies I would have missed manually.
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LunarEclipse
•That sounds like exactly what I need! How does the verification process work?
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Paolo Esposito
•Super simple - just upload your documents and it runs automated checks. Shows you exactly where inconsistencies are so you can fix them before filing.
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Amina Toure
•I'll have to check that out. Been doing manual comparisons forever and it's tedious.
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Oliver Weber
OH MY GOD yes this is a nightmare scenario waiting to happen!! I had a lender reject a loan modification because the UCC-1 debtor name didn't match the security agreement EXACTLY. Cost my client thousands in delays and I nearly got sued. Fix this NOW before you file anything!
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LunarEclipse
•Yikes, that's terrifying. I'm definitely going to get this sorted out first.
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FireflyDreams
•wow that's a horror story. thanks for sharing even though it's scary
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Natasha Kuznetsova
For the collateral description, you don't need to match word-for-word between the security agreement and UCC-1, but they should cover the same scope. The UCC-1 can be broader (like 'all equipment') while the security agreement gets specific about individual items. Just make sure the UCC-1 doesn't exclude anything that's in the security agreement.
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LunarEclipse
•That's helpful context. My security agreement lists specific equipment serial numbers but my UCC-1 just says 'equipment used in debtor's manufacturing operations.' Sounds like that should be fine.
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Natasha Kuznetsova
•Exactly right. The UCC-1 is the public notice, the security agreement has the detailed terms. Just make sure your broad description encompasses everything in the detailed list.
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Javier Morales
Been there with template inconsistencies. Most online templates aren't written by lawyers familiar with UCC requirements. I always review both documents together now before finalizing anything. Better to catch it early than deal with priority issues later.
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LunarEclipse
•Yeah, I'm learning that lesson the hard way. This borrower got these templates from some business website and I should have reviewed them more carefully upfront.
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Emma Anderson
•Same thing happened to me last year. Now I insist on reviewing all borrower-provided documents before we get too far into the process.
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Malik Thompson
The LLC name thing is so common. I always check the Secretary of State database to confirm the exact registered name format before filing. Takes 2 minutes and saves so much headache later.
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LunarEclipse
•Good tip! I should make that part of my standard process too.
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Isabella Ferreira
•Smart approach. I do the same thing now after getting burned once.
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CosmicVoyager
Document alignment is everything in secured transactions. I've handled situations where slight discrepancies between security agreements and UCC filings created gaps that junior lenders exploited. Always worth the extra time to ensure consistency across all documents before filing.
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LunarEclipse
•That's exactly the kind of scenario I want to avoid. I'll definitely take the time to get this right.
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Ravi Kapoor
•Junior lenders are ruthless about finding these gaps. Good reminder to be thorough.
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Freya Nielsen
Had a similar issue last month where the promissory note had different terms than the security agreement. Used one of those document checking tools and it flagged like 8 different inconsistencies I hadn't noticed. Saved me from a potential disaster.
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LunarEclipse
•Which tool did you use? I'm definitely going to check out some options.
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Freya Nielsen
•I used Certana.ai - really straightforward and caught everything. Just upload your docs and it does the comparison automatically.
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Omar Mahmoud
Pro tip: create a checklist for document review that includes debtor name consistency, collateral description scope, and filing jurisdiction. Use it every time before submitting UCC-1s. Prevents these kinds of issues from slipping through.
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LunarEclipse
•That's a great idea. I should definitely systematize this process better.
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Chloe Harris
•Checklists are lifesavers in this business. I have one for everything now.
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Diego Vargas
This is why I always recommend having all loan documents prepared by someone familiar with UCC requirements. Templates are fine for simple situations but complex transactions need proper legal review to ensure everything works together.
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LunarEclipse
•Lesson learned for sure. I'll be more careful about document preparation going forward.
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NeonNinja
•Templates definitely have their place but they can create these kinds of coordination issues.
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Anastasia Popov
Get that debtor name fixed before you file! I've seen too many people file with the wrong name format and then have to do amendments or terminations to fix it. Much easier to get it right the first time.
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LunarEclipse
•Definitely planning to fix it first. Thanks for the reinforcement that this is the right approach.
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Sean Murphy
•UCC-3 amendments are such a pain. Always better to get the UCC-1 right initially.
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