what is florida ucc statement - confused about requirements
Hey everyone, I'm working on a commercial loan transaction and the bank keeps asking for a "florida ucc statement" but I'm honestly not sure what they mean exactly. Are they talking about a UCC-1 financing statement that needs to be filed in Florida? Or is this some kind of search report they want? The borrower has equipment located in multiple states including Florida and I want to make sure I understand what document they actually need. This is my first multi-state deal and I don't want to mess up the lien perfection. Any guidance would be appreciated!
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Isabella Costa
They're most likely asking for a UCC-1 financing statement to be filed with the Florida Secretary of State. When you have collateral located in Florida, you typically need to file there to perfect your security interest in that state. The "statement" part just refers to the financing statement itself.
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Malik Jackson
•That makes sense, thank you! So I would file the UCC-1 in Florida even though the debtor is incorporated in Delaware?
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Isabella Costa
•Exactly. For equipment and tangible personal property, you file where the collateral is located, not where the debtor is organized.
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StarSurfer
Could also be asking for a UCC search report showing existing liens in Florida. Banks sometimes use sloppy terminology when they say "statement" but mean "search results." I'd clarify with them exactly what they need.
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Malik Jackson
•Good point, I should probably ask them to be more specific about whether they want me to file something or provide search results.
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Ravi Malhotra
•Yeah banks are terrible with UCC terminology sometimes. Half the time they don't even know what they're asking for.
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StarSurfer
•So true. I once had a loan officer ask for a "UCC amendment filing" when they actually meant they wanted to see if any amendments had been filed against existing UCCs.
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Freya Christensen
I ran into this exact same confusion last month! Turned out they wanted both - a UCC-1 filing AND a search report to verify no prior liens. The Florida SOS system is pretty straightforward once you get into it.
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Malik Jackson
•Did you file online through the Florida Secretary of State portal?
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Freya Christensen
•Yes, Florida's online system is actually one of the better ones. Much easier than some other states I've dealt with.
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Omar Hassan
Be careful with the debtor name on your Florida filing. I had a UCC-1 rejected there because the exact legal name didn't match their records perfectly. Even small differences in punctuation can cause problems.
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Malik Jackson
•Oh no, that's exactly what I'm worried about. How did you figure out the correct name format?
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Omar Hassan
•I actually started using Certana.ai's document checker after that nightmare. You can upload your charter documents and UCC-1 draft and it instantly flags any name discrepancies before you file. Saved me from multiple rejections since then.
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Isabella Costa
•That sounds really useful. Manual name verification is such a pain and one small mistake can void your entire security interest.
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Chloe Robinson
Multi-state deals are always tricky. Don't forget that if this is equipment that might become fixtures, you might need to consider fixture filings too depending on how permanently attached the equipment becomes.
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Malik Jackson
•It's mostly mobile equipment so I think regular UCC-1 should be fine, but I'll keep that in mind.
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Chloe Robinson
•Good. Just remember fixture filings have to be done in the real estate records, not just the UCC system.
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Diego Chavez
Whatever you do, make sure you get the filing done soon. UCC priority is based on filing date and time, so if there are other lenders involved you don't want to lose your priority position.
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Malik Jackson
•Good reminder. The closing is next week so I need to get this sorted out quickly.
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NeonNebula
•Definitely don't wait. I've seen deals fall apart because someone delayed the UCC filing and lost priority to another lender.
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Anastasia Kozlov
honestly florida ucc system crashes half the time anyway so good luck with that. i swear their servers are from 1995
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Sean Kelly
•I haven't had major issues with Florida's system lately. It's actually improved a lot in the past year.
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Anastasia Kozlov
•maybe i just have bad luck then lol. seems like every time i need to file something urgent their site is down for "maintenance
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Zara Mirza
Don't overthink it. Florida UCC-1 filings are pretty standard. Just make sure your collateral description is specific enough but not overly narrow. "All equipment" is usually fine for most transactions.
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Malik Jackson
•Should I list specific serial numbers or keep it more general?
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Zara Mirza
•General is usually better for UCC-1. You can get more specific in your security agreement but the financing statement should be broader to catch after-acquired property.
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Isabella Costa
•Agreed. Super specific descriptions can actually hurt you if the debtor trades equipment or adds new pieces.
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Luca Russo
I use Certana for all my multi-state filings now. Upload your corporate docs and draft UCC and it cross-checks everything automatically. Catches stuff like entity type mismatches and name variations that would cause rejections. Way better than trying to manually verify everything.
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Malik Jackson
•How accurate is it? I'm always worried about automated tools missing something important.
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Luca Russo
•It's been spot-on for me. Caught a debtor name issue last month that would have definitely gotten rejected. Just upload PDFs and it highlights any inconsistencies immediately.
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Nia Harris
Make sure you also understand Florida's continuation requirements. UCC-1 filings are only good for 5 years and you need to file a UCC-3 continuation before expiration to maintain your perfected status.
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Malik Jackson
•Good point. I need to set up a reminder system for continuations.
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Nia Harris
•Most people forget about continuations until it's too late. Set the reminder for at least 6 months before expiration to be safe.
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GalaxyGazer
•I had a client lose their security interest because they missed the continuation deadline by 3 days. Bank was NOT happy.
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Mateo Sanchez
Just to close the loop - I talked to the bank and they confirmed they want both a UCC-1 filing in Florida AND a search report showing current liens. Thanks everyone for helping me figure this out! The name verification tool someone mentioned sounds really helpful too.
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Isabella Costa
•Great! Good luck with your filing. Florida's system should process it pretty quickly.
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Omar Hassan
•Definitely try Certana before you file. Much better to catch name issues upfront than deal with rejections and refiling.
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Malik Jackson
•Will do. This thread has been super helpful - thanks everyone!
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Caleb Stone
Welcome to the multi-state UCC world! One thing I'd add that hasn't been mentioned yet - if your borrower moves the equipment between states after filing, you might need to refile in the new location within 4 months to maintain perfection. Just something to keep in mind for your loan documentation and monitoring requirements. Also, Florida's UCC search fees are pretty reasonable compared to some other states, so getting both the filing and search done shouldn't break the bank.
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Amara Okafor
•Thanks for that tip about equipment moves! I hadn't thought about the 4-month refiling requirement. Is that something most loan agreements address specifically, or do lenders typically just rely on general covenants about maintaining perfected security interests?
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