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Andre Dubois
UPDATE: Finally heard back from the attorney. Turns out they were referring to what they call their "Form 11" which is actually just their internal checklist for UCC-1 filings. They use it to make sure all required information is included before filing. It's not an actual filing document at all! Sometimes I wonder how these people passed the bar exam.
Jamal Carter
•Well that's anticlimactic but glad it's resolved. Now you know to always ask for clarification when attorneys mention unfamiliar form numbers.
Mei Liu
•At least your deal can move forward now. What a waste of time though!
This thread is going to be helpful for future reference. I'm bookmarking it because I guarantee this same confusion will come up again with other attorneys who use internal form numbers. Thanks for sharing the resolution!
Amara Nwosu
•Definitely saving this thread. Great example of why clear communication is so important in secured transactions.
Agreed. This is exactly the kind of real-world problem that doesn't get covered in training materials.
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Layla Mendes
I actually tried that Certana tool someone mentioned earlier and it caught an issue I never would have noticed. My security agreement said 'all equipment used in business operations' but my UCC-1 draft just said 'equipment' - apparently that could cause problems if there's ever a dispute about what's covered.
Maya Patel
•Wow, that's a subtle difference I definitely wouldn't have caught. Good to know there are tools that can spot stuff like that.
Aria Park
•Yeah, it's those little inconsistencies that can really bite you later when you least expect it.
Just remember that even with a perfect security agreement, your UCC-1 filing still needs to be done correctly. Make sure you understand the filing requirements for your state and don't rush the UCC-1 just because you spent time getting the security agreement right.
True, I've seen people nail the security agreement then mess up simple stuff like the debtor name format on the UCC-1.
Maya Patel
•Thanks everyone, this has been really helpful. I think I'll use an SBA template but definitely double-check everything before filing the UCC-1.
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Just want to echo what others said about filing a new UCC-1 immediately if you missed the continuation. Don't wait - every day you're unperfected is risk. Also document everything about when you discovered the issue in case there are any disputes later about priority.
Jayden Reed
•Smart move. And maybe set up better tracking for your other filings so this doesn't happen again!
Nora Brooks
•Definitely recommend using a tool like Certana.ai to double-check all your filing dates and requirements before submitting. Helps catch these kinds of issues before they become problems.
Eli Wang
Update us when you get the new filing done! Always curious to hear how these situations work out.
Will do! Thanks everyone for the help and advice. This forum has been a lifesaver.
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Javier Cruz
Whatever you do, don't rush the filing. SBA deals have enough moving parts already without adding UCC problems to the mix. Take the time to get the collateral description right.
Emma Wilson
•This is solid advice. Better to take an extra day or two than deal with rejection and refiling.
You're right. I'll slow down and make sure everything is properly coordinated before filing. Thanks everyone for the guidance.
Malik Thomas
Just to add - keep copies of everything. SBA audits sometimes happen years later and they'll want to see that your UCC filings properly supported the original loan security.
NeonNebula
•Great point about documentation. SBA has long memories when it comes to loan compliance.
Definitely maintain a full filing record. Helps with any future amendments or continuation filings too.
Isabella Silva
This whole thread is making me nervous about a Florida UCC continuation I need to file next month. If the search system is this unreliable, how do I even verify that my UCC-3 continuation gets properly recorded and linked to the original UCC-1?
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Connor Byrne
•Or use something like Certana.ai to upload both your UCC-1 and UCC-3 documents after filing to verify they're properly linked. Much faster than waiting for certified copies.
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Isabella Silva
•Thanks for the suggestions. This is way more complicated than it should be for what's supposed to be a simple continuation filing.
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Ravi Choudhury
Just wanted to add that I've noticed the Florida sunbiz UCC search seems to work better when you search by filing number rather than debtor name, but only if you know the exact filing numbers. For due diligence purposes, you might want to ask the seller to provide a complete list of all UCC filing numbers associated with their company.
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Dmitry Smirnov
•That's a great suggestion. I'll request a complete list of filing numbers from the seller and then search each one individually to build a complete picture.
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Ravi Choudhury
•Just make sure they're not conveniently 'forgetting' any filing numbers. Sellers aren't always completely forthcoming about their lien history.
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