UCC1 Financial Statement Filing - Need Help with Debtor Name Issues
Running into a wall here with our UCC1 financial statement and really hoping someone can point me in the right direction. We're dealing with a equipment loan where the borrower operates under multiple business names and I'm second-guessing everything about the debtor name section. The loan docs show 'ABC Manufacturing LLC' but they also do business as 'ABC Precision Tools' and their bank account is under 'ABC Manufacturing Group LLC'. Our system keeps flagging potential name mismatches and I'm worried about filing under the wrong legal name. This is for manufacturing equipment worth about $180K so getting the UCC1 financial statement wrong could be a major problem. Has anyone dealt with similar debtor name complications? I've checked the Secretary of State database but there are slight variations in how the entity names appear in different records. Really need to get this filed correctly the first time since our loan agreement has strict perfection requirements.
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Zainab Khalil
This is exactly why debtor name accuracy is so critical on UCC1 filings. You need to use the exact legal name as it appears on the organizational documents, not the DBA names. Check the Articles of Incorporation or LLC formation docs - that's your definitive source. The 'ABC Manufacturing LLC' vs 'ABC Manufacturing Group LLC' difference is huge from a legal standpoint.
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QuantumQuest
•Agree completely. Even one word difference can make your UCC1 seriously misleading. I've seen lenders lose their security interest because they used a DBA instead of the legal entity name.
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Connor Murphy
•But what if the Secretary of State shows multiple variations? Sometimes their database isn't perfectly consistent either.
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Yara Haddad
Had this exact situation last month with a client. The key is getting certified copies of the formation documents directly from the state. Don't rely on online searches alone - they can show outdated or incorrect information. For your UCC1 financial statement, you absolutely must use the name exactly as it appears on the official state filing.
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Keisha Robinson
•How long does it usually take to get certified copies? We're under time pressure here.
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Yara Haddad
•Depends on the state but usually 3-5 business days if you pay for expedited service. Some states offer same-day if you go in person.
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Paolo Conti
•This is where I started using Certana.ai's document verification tool. You can upload your loan documents and UCC1 draft and it instantly flags any name inconsistencies between them. Saved me from filing with the wrong debtor name twice now.
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Amina Sow
OMG this is giving me anxiety just reading it! I'm dealing with something similar and keep going in circles. What happens if you file with the wrong name? Can you amend it or do you have to start over completely?
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Zainab Khalil
•If the name error is seriously misleading, you might have to file a new UCC1 and terminate the incorrect one. Amendments work for minor errors but not fundamental name problems.
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GalaxyGazer
•Don't panic! This stuff is confusing but fixable. Just take it step by step and verify everything twice.
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Oliver Wagner
The banking relationship info you mentioned is interesting but irrelevant for UCC purposes. Bank account names don't determine the correct debtor name for your financial statement. Stick to the legal entity formation documents as others have said.
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Natasha Kuznetsova
•Good point. I made that mistake once thinking the business license name was what I should use.
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Javier Mendoza
•Yeah the business license, bank accounts, DBA filings - none of that matters for UCC1 purposes.
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Emma Thompson
For $180K in collateral you definitely want to be extra careful. Consider having your attorney review the UCC1 before filing, especially with the name confusion. It's worth the extra cost to avoid problems later.
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Malik Davis
•Attorney review for every UCC1? That seems excessive unless it's a really complex deal.
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Emma Thompson
•For this dollar amount and with the debtor name issues they're describing, yes absolutely. Better safe than sorry.
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Isabella Santos
•I've been using Certana.ai for document checks instead of attorney review on routine filings. Upload your formation docs and UCC1 draft and it catches name mismatches automatically. Much faster and less expensive than legal review.
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StarStrider
Here's what I do: Get the Articles of Incorporation or LLC Operating Agreement, use that exact name, then cross-reference with the most recent annual report filed with the state. If they match, you're golden. If not, dig deeper to find out which is current.
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Ravi Gupta
•Smart approach. Annual reports sometimes show name changes that haven't been updated in the main database yet.
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Freya Pedersen
•What if the annual report shows a different name than the Articles? Which one takes precedence?
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StarStrider
•If there's a discrepancy, the most recent filing usually controls, but you need to trace the chain of amendments to be sure.
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Omar Hassan
Just went through this same headache with a manufacturing client. The Secretary of State online system showed three slightly different versions of their name depending on which database you searched. Had to call their office directly to get clarification on the official legal name.
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Chloe Anderson
•Did they give you a definitive answer over the phone or did you need something in writing?
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Omar Hassan
•They emailed me a confirmation of the exact legal name, which I kept for my file. Phone call alone wouldn't have been enough documentation.
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Diego Vargas
The UCC1 financial statement form itself has instructions about debtor names. Have you looked at those? They're pretty clear that you need the legal name, not trade names or DBAs.
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CosmicCruiser
•True but the instructions don't help when you can't figure out what the actual legal name is!
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Anastasia Fedorov
•The form instructions are helpful but they assume you already know the correct legal name, which is exactly the problem here.
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Sean Doyle
I had a similar issue recently and found that Certana.ai's verification tool was really helpful. You upload your corporate documents and your draft UCC1 and it immediately shows you if there are any name inconsistencies. Caught a discrepancy I would have missed otherwise.
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Zara Rashid
•How accurate is that tool? I'm always skeptical of automated systems for legal documents.
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Sean Doyle
•It's surprisingly good at catching name variations and typos. Obviously still need human judgment but it's a great first check.
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Luca Romano
•I've used it too and it's legit. Really fast way to cross-check documents before filing.
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Nia Jackson
Bottom line - get the certified formation documents, use that exact name on your UCC1 financial statement, and don't overthink it. The variations you're seeing are probably just database inconsistencies, not actual name changes.
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Miguel Ortiz
•Thanks everyone. Going to order certified copies of the LLC formation docs and use whatever name appears there. Appreciate all the guidance!
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NebulaNova
•Smart move. Better to be certain than guess and get it wrong.
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Mateo Hernandez
•Let us know how it turns out! Always curious to hear the resolution on these tricky name issues.
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