UCC information - need help understanding basic filing requirements

Thanks for the quick response! So the debtor name has to be exactly as it appears on our articles of incorporation? What if our company does business under a different name sometimes?

Exactly right - use the exact legal name from your incorporation documents. If you have a DBA, that's separate from your legal entity name for UCC purposes. Stick with the official legal name to avoid any complications.

Oh wow, three rejections? That sounds frustrating. How long did the whole process end up taking you?

It took almost 6 weeks total because each rejection meant starting over with a new filing fee. Really wish I had double-checked everything more carefully from the start.

This is exactly why I started using document verification tools. Got burned too many times by simple name mismatches that could have been caught upfront.

That sounds incredibly useful! Is it complicated to use? I'm not super tech-savvy but definitely want to avoid filing mistakes.

Not complicated at all - you literally just upload the PDFs and it highlights any inconsistencies. Much easier than trying to manually compare documents line by line.

I've been manually checking documents for years but honestly that sounds way more reliable than my eyeball method. Names can be tricky with all the punctuation and abbreviations.

Good point about working with the lender. Should I be drafting the UCC-1 myself or will they typically handle that part?

Most lenders will prepare the UCC-1 form since they want to make sure their security interest is properly protected. But you should still review it carefully before signing off.

Yes! Always review even if the lender prepares it. I've seen lawyers make mistakes on debtor names too. Everyone's human and these forms have so many details that can go wrong.

That's a great reminder about timing. Our loan is supposed to close in about 3 weeks - hopefully that's enough time to get everything filed properly.

Three weeks should be plenty of time as long as you don't run into any rejections. Most electronic filings process within 2-3 business days if everything is correct.

Good advice! I'm definitely going to create a dedicated folder for all the UCC documentation. How long do you typically keep these records?

Keep them for the life of the loan plus a few years after it's paid off. You never know when you might need to reference the original filing details.

Also worth noting that UCC-1 filings are generally effective for 5 years, so if your loan term is longer, you'll need to file a continuation statement before it lapses.

That's a smart idea! I hadn't thought about using the public records as examples. Is there a standard way to access these databases?

Usually just search for '[your state] UCC search' and you'll find the Secretary of State's database. Some charge a small fee for searches but it's worth it for the research.

Just be careful not to copy language exactly from other filings - make sure whatever you use actually fits your specific situation and lender requirements.

We're incorporated and have all our equipment in the same state, so hopefully that keeps things simple. But good to know about multi-state situations.

Yeah, single state definitely makes it easier. Multi-state filings can get complicated with different fees and requirements in each jurisdiction.

Thanks for the heads up! I'll get that account setup this week so I'm ready to go when we get to the filing stage.

Smart move. I've seen people get stuck waiting for account approvals when they needed to file urgently. Better to be prepared.

Same here. Set up the account early and maybe do a practice search or two to get familiar with the interface before you need to file for real.

Wow, that's exactly the kind of subtle difference I would never catch on my own. Definitely going to check that out before we file anything.

Right? Those little punctuation differences seem minor but they'll kill your filing every time. Worth the peace of mind to catch them upfront.

This thread has convinced me to use some kind of verification tool too. I've been lucky so far but why risk it when there are tools available to help?