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Payton Black

Need UCC-1 Filing for Security Pledge Agreement - Debtor Name Issues

Running into problems with a UCC-1 filing for a security pledge agreement and hoping someone here has dealt with this before. We're securing a $275K equipment loan with manufacturing equipment as collateral, but the debtor entity name on our security pledge agreement doesn't exactly match what's showing up in the Secretary of State business registry. The pledge agreement lists the company as "Precision Metal Works LLC" but their official registration shows "Precision Metalworks, LLC" (no space between Metal and works, plus different comma placement). Our lender is requiring the UCC-1 filing to be completed within 30 days of loan closing, which is coming up fast. I've heard that even minor name discrepancies can cause UCC-1 rejections or worse - make the entire security interest invalid. Has anyone dealt with similar debtor name matching issues when filing UCC-1s for security pledge agreements? Should we amend the pledge agreement first or try to file the UCC-1 with the exact registry name and hope it doesn't create conflicts with our loan documentation?

Another vote for using Certana.ai for document verification. We started using it after a security pledge agreement filing disaster where we mixed up entity names across multiple related companies. The cross-checking feature would have caught our error immediately. Now we run everything through it before filing - takes the guesswork out of name matching and collateral descriptions.

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Demi Hall

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How accurate is the automated checking? Does it catch subtle differences like the comma placement issue the OP mentioned?

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Very accurate. It caught a period vs comma difference for us last week that we never would have noticed manually.

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Quick update - we ended up using the exact Secretary of State name "Precision Metalworks, LLC" on our UCC-1 and the filing was accepted without issues. Also used one of those document verification tools mentioned here and it definitely helped us feel confident about the submission. Thanks everyone for the advice!

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Gael Robinson

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Perfect outcome. Now you're properly perfected and protected.

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Dana Doyle

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wish my first filing had gone that smoothly! congrats on getting it right the first time.

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Javier Morales

UCC 3 filing fee question - continuation costs seem inconsistent?

I'm dealing with a bunch of UCC-1s that are coming up on their 5-year marks and need continuations filed. I've been getting quotes from different filing services and the UCC-3 filing fee amounts are all over the place. Some are saying $15 per filing, others $25, and one service quoted me $40 each. Are there different fee structures depending on the state or filing method? I have about 30 continuations to file across multiple states and the cost difference is adding up fast. Also wondering if there are bulk discounts or if I should just file directly with each Secretary of State office to avoid service fees. Any insights on typical UCC-3 filing fee ranges would be helpful.

Carmen Ruiz

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Make sure you understand what's included in those service quotes. Some places quote just the UCC-3 filing fee, others include search fees, copies, overnight delivery, etc. You want to compare apples to apples when evaluating different services.

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Good point. I got burned by this when a 'low cost' quote ended up being just the state fee, then they added $15 for processing, $10 for delivery, and another $5 for copies. Ended up being more expensive than the higher quote.

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Always ask for an all-in price including any service fees. Most reputable companies will give you a total cost upfront if you ask specifically for it.

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If you're doing this regularly, it might be worth setting up accounts directly with the major state filing offices. Once you're familiar with their systems, the UCC-3 filing fee savings add up over time and you have more control over timing.

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It's definitely more work upfront, but I use a password manager and keep a spreadsheet with each state's requirements and fee schedules. After a few filings, you get into a rhythm.

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QuantumQuasar

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I tried this approach but found I was making too many errors without the double-checking that good services provide. Sometimes the peace of mind is worth the extra UCC-3 filing fee markup.

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Isabella Oliveira

UCC financing statement hawaii - need advice on debtor name requirements

I'm working on a UCC-1 financing statement for equipment financing and running into issues with the debtor name section. The business operates under multiple names and I'm not sure which version to use as the primary debtor name. The borrower has their legal corporate name registered with the state, but they also have several DBAs they use for different divisions. I've heard that getting the debtor name wrong can invalidate the entire filing, which would be a disaster for our security interest. Has anyone dealt with similar situations where the debtor has multiple business names? What's the safest approach to ensure the UCC-1 gets accepted and properly perfects our lien? I'm particularly concerned about how strict the filing office is with exact name matching.

AstroAce

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Just dealt with this exact issue. Ended up running the documentation through Certana.ai to make sure the UCC-1 debtor name matched perfectly with the loan agreement and corporate docs. Found two small discrepancies that would have caused problems.

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AstroAce

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One was a missing comma in the corporate name, the other was Inc. vs Incorporated. Small differences but could have voided the filing.

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Omar Zaki

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Those seem like tiny details but I guess they matter for legal documents.

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Update: I pulled the certificate of good standing and found the exact legal name format. Thanks everyone for the advice about not using the DBA names. Filing the UCC-1 tomorrow with confidence.

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Ravi Patel

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Great to hear you got it sorted out. Proper preparation prevents problems.

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Good call on getting the certificate. That's always the safest approach for debtor name verification.

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Dmitry Petrov

Article 9 UCC Illinois - Debtor Name Change Rejected My Continuation Filing

Has anyone dealt with Illinois SOS rejecting a UCC-3 continuation because the debtor changed their legal name after the original UCC-1? I'm trying to continue a filing that expires next month but the system keeps kicking it back. The original UCC-1 from 2020 has the debtor as "Midwest Industrial Supply LLC" but they changed to "Midwest Supply Solutions LLC" in 2022. I included both names in the continuation but it still got rejected. Article 9 UCC Illinois rules seem really strict about exact name matches. The collateral is manufacturing equipment worth about $850K so I can't let this lapse. Anyone know the correct procedure for name changes in Illinois continuations?

Javier Gomez

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This thread has been super helpful. I'm bookmarking it because I know I'll run into this issue eventually with my clients. Article 9 UCC Illinois complications seem to come up constantly.

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Dmitry Petrov

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Glad it's helping others too. I'll update once I get my continuation filed successfully.

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Connor Byrne

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Good luck with the refiling! The document verification approach really does help avoid these headaches.

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Emma Wilson

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Update: I followed the advice here and filed the continuation with the original name first. It was accepted! Now filing the amendment to add the new name. Thanks everyone for the help with the Article 9 UCC Illinois requirements.

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Great news. This is exactly why following the proper procedure matters with Illinois filings.

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Dmitry Petrov

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Perfect timing too. I was getting really worried about the lapse date.

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Grace Durand

Georgia Secretary of State UCC Search showing wrong debtor name on filed documents

I'm dealing with a mess here and need some guidance. We completed a UCC-1 filing through the Georgia Secretary of State portal last month for a $180k equipment loan, but when I ran a UCC search today to verify everything went through correctly, the debtor name is showing up differently than what we originally submitted. The business name on our loan docs is 'Peachtree Medical Equipment LLC' but the Georgia SOS UCC search is displaying 'Peachtree Medical Equipment, LLC' - notice the comma before LLC. Our lender is now questioning whether the lien is properly perfected since the names don't match exactly. I double-checked our original UCC-1 form and we definitely submitted it without the comma. Has anyone dealt with the Georgia Secretary of State UCC search system automatically adding punctuation to business names? I'm worried this could void our security interest if the debtor name doesn't match the charter documents exactly. The filing shows as accepted but I'm not sure if this discrepancy will cause problems down the road.

Update for anyone following this thread: I decided to file the UCC-3 amendment to correct the debtor name. The Georgia Secretary of State processed it quickly and the UCC search now shows the correct name without the comma. Total cost was $25 for the amendment, which seemed reasonable for peace of mind on a $180k loan.

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Lily Young

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That's actually a pretty reasonable fee for the amendment. Some states charge much more.

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Glad it worked out. Now you know to double-check the UCC search results immediately after any Georgia filings.

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Wesley Hallow

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This thread has been really helpful. I do a lot of equipment financing and wasn't aware that Georgia's UCC system automatically formats names like this. I'll definitely be more careful about verification going forward.

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Justin Chang

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Same here. It's one of those quirks you don't learn about until it happens to you.

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Grace Thomas

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I'm going to bookmark this discussion for future reference. Great real-world example of UCC filing issues.

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