UCC statement service recommendations - need help with bulk filing verification

Exactly that kind of stuff plus some where the original UCC-1 shows 'ABC Manufacturing Inc' but the loan agreement references 'ABC Manufacturing LLC' - seller says it was a conversion but I can't find the UCC-3 amendment filing.

Oh no that's a red flag. If they converted entity types without filing the proper UCC-3 amendment the lien might not be perfected against the new entity structure.

That sounds perfect - does it catch things like missing UCC-3 amendments or just name mismatches?

It flags inconsistencies between documents so if your loan agreement shows one entity name but the UCC-1 shows something different, it'll highlight that. Really helpful for the workflow you're describing.

How accurate is the name matching? I've seen some services that throw false positives on minor abbreviation differences.

Good point - we're checking primary state of organization first but several have equipment scattered across 3-4 states. This is getting overwhelming fast.

Multi-state fixture filings are the worst. Each SOS system works differently and some states require separate fixture filings for real estate records.

That's exactly what I'm afraid of. Some of these loans are $2M+ and if the UCC filings are invalid we're looking at unsecured debt.

Don't panic yet. Sometimes the filings are correct and it's just the way the loan documents were drafted. But definitely worth getting professional verification.

This is why I always recommend triple-checking entity names during the initial UCC search. Better to catch it early than during due diligence.

We've got about 6 weeks to close and 3 of the UCC-1s expire within the next 4 months. Definitely planning to file continuations but want to make sure we're continuing valid liens.

Smart approach. Filing a continuation on an invalid original UCC-1 doesn't cure the underlying perfection problem.

We've got a search firm doing the initial UCC searches but they don't really do document comparison against loan files. That's where we're struggling.

Some firms offer enhanced services but it gets expensive fast with 47 entities. Might be worth it though given the loan amounts involved.

Mostly LLCs but we've got 3 partnerships and 1 sole proprietorship. The sole prop is giving me nightmares because the UCC-1 shows a DBA name but the loan is to the individual.

Oof yeah sole props are the worst. If the individual does business under a trade name you might need both names on the UCC-1 depending on the state.

We're pulling directly from SOS websites but some states have terrible search interfaces. Wyoming's system crashed on me twice yesterday.

Wyoming's portal is notoriously unreliable. Try searching late at night or early morning when traffic is lower.

Or use a service that pulls directly from the SOS databases. Saves the headache of dealing with crashed portals during business hours.

Good catch - seller disclosed 2 entities had chapter 11 cases that were dismissed but I haven't dug into whether that affected the UCC filings.

Dismissed chapter 11s usually don't affect pre-petition UCC filings but definitely worth confirming. Sometimes there are cash collateral orders that modify lien positions.

That's exactly what I need to hear. Did it handle fixture filings too or just standard UCC-1s?

It handled everything - UCC-1s, UCC-3 amendments, fixture filings, the whole mess. Really streamlined the due diligence process.