When must a UCC-1 financial statement be filed - timing requirements?

So if we close Friday, the UCC-1 needs to be filed by Friday at the latest? What if the SOS office is closed?

Exactly, by Friday at the latest. Most states have electronic filing available 24/7 now, so weekend closings aren't usually a problem. Which state are you in?

We're in Texas. Good to know about the electronic filing - I'll check the Texas SOS portal.

Smart approach. I've seen lenders get burned by waiting until the last minute. Filing early also gives you time to fix any rejections.

What happens if there's a rejection and you don't catch it until after closing?

Then you're unsecured until you get a clean filing accepted. That's why I always file early and verify acceptance before funding.

How does that tool work? Just upload the documents?

Yeah, really straightforward. You upload your charter docs and UCC-1 draft, and it cross-checks everything automatically. Flags inconsistencies in debtor names, addresses, that kind of stuff.

That actually sounds useful. I spend way too much time manually comparing documents.

This isn't PMSI - it's refinancing existing equipment. So standard timing rules apply?

Correct, no PMSI protection for refinancing. You definitely need to file before or simultaneously with funding.

What's your typical timeline for commercial deals?

I prepare the UCC-1 as soon as loan docs are finalized, file it 48-72 hours before closing, and verify acceptance before releasing funds. Never had a perfection issue following that process.

Do you ever file continuation statements early too?

Continuations are different - you can't file those more than 6 months before the original expires. But yes, I set calendar reminders well in advance.

Good point about lien creditor priority. That's why same-day filing at closing is cutting it too close.

Exactly. You never know when someone else might be filing against your debtor.

Depends what changed. Collateral description changes usually require an amendment. Loan amount changes typically don't affect the UCC-1.

I'd recommend running the revised docs through a verification tool if the terms changed materially. Better to catch any issues before closing.

That's a good analogy. Makes it clear why timing matters.

I'm stealing that insurance comparison for my next client presentation!

This is why I love using document verification tools now. Used to spend hours comparing names character by character.

Which tool do you use? I'm still doing manual comparisons and it's a pain.

Certana.ai has been working well for me. Upload your docs and it flags any inconsistencies automatically. Much faster than manual review.

This should be pinned as the definitive answer. Clear and practical.

Thanks everyone - definitely filing early this week to be safe. Really appreciate all the guidance!

Great question! While the UCC is mostly uniform, there are definitely some state variations to watch out for. Some states process filings faster than others - I've seen acceptance times range from immediate (in states with good electronic systems) to 24-48 hours. A few states still have quirky name requirements too. Texas, which the original poster mentioned, is actually pretty good - their SOS portal usually processes electronically filed UCCs within a few hours during business days. But I'd still recommend filing at least 24-48 hours early just to be safe, especially if you're new to this. Better to have that buffer than risk a last-minute rejection!