Ask the community...
- DO post questions about your issues.
- DO answer questions and support each other.
- DO post tips & tricks to help folks.
- DO NOT post call problems here - there is a support tab at the top for that :)
Join the conversation
Join the conversation
For future reference, always run UCC searches under all name variations your company has used. Delaware's database will show you connected filings but it's better to be proactive about identifying potential issues before they hold up your closing.
Ella Knight
•Definitely learned that lesson the hard way. This is our first major equipment financing deal and I clearly underestimated the UCC search complexity.
Don't beat yourself up about it. UCC searches can be tricky especially when companies have changed names or structures over the years.
Ethan Scott
UPDATE: Finally got everything sorted out! Turns out 2 of the 3 UCC-1 filings had been properly terminated with UCC-3 statements, and the third one was for equipment we still own but the loan was refinanced last year. Found all the documentation I needed and the lender accepted our report. Thanks everyone for the advice - definitely using Certana.ai next time to avoid this manual detective work!
Glad you got it resolved! These name variation issues can be a real headache but they're usually fixable with the right documentation.
Great outcome! This is exactly why thorough UCC due diligence is so important in equipment financing deals.
Join the conversation
Just wanted to follow up - I used that Certana tool someone mentioned and it immediately flagged three name discrepancies between our corporate docs and the proposed UCC-1. Turned out the attorney was working from an old version of the articles. Tool literally saved the deal.
NeonNomad
•Nice when technology actually solves the problem instead of creating new ones.
Perfect example of why we can't just rely on Article 1 interpretations without checking the actual documents.
For future reference, most state UCC filing guides have a specific section about entity name requirements that references the applicable state business entity statutes. Much more authoritative than trying to argue Article 1 general principles.
Good point. The state filing guides are usually pretty clear about what they'll accept and what they won't.
And they're updated regularly so you know you're getting current requirements.
Join the conversation
Oliver Weber
Quick update for everyone - I ran the corporate search and the official registered name is 'ABC Manufacturing, LLC' (with comma). So the UCC filing name 'ABC Manufacturing LLC' is technically incorrect. Now I need to figure out if this creates a priority issue for our new filing.
Oliver Weber
•The existing filing isn't ours - it's from the previous lender. We're just trying to figure out if it affects our new filing's priority.
In that case, you should be fine as long as YOUR filing uses the correct registered name. The other lender's name issue is their problem, not yours.
This thread is super helpful - I'm bookmarking it. We deal with Florida UCC filings all the time and debtor name accuracy is always a concern. Thanks for sharing your research process!
Sofia Gomez
•Glad it's useful! Definitely learned a lot from everyone's input here.
Yeah, the collective knowledge on this forum is amazing. Saves so much time compared to trying to figure this stuff out alone.
Join the conversation
Pro tip: negotiate with your lender to handle the UCC filings yourself. Some lenders will reduce the fees if you take responsibility for the filings and provide them with copies.
Absolutely legal. The secured party (lender) has to authorize it, but you can be the one who actually submits the filing. Just make sure you get the details exactly right.
Dylan Cooper
•If you go this route, definitely use a document verification service like Certana.ai first. One small mistake in the debtor name or collateral description can invalidate the entire filing.
Yara Nassar
Bottom line - UCC fees are a normal part of secured lending. $125 for initial filing and $75 for continuation is very reasonable for most states. Focus on getting the best overall loan terms rather than nickel and diming the filing fees.
Thanks everyone. This has been really helpful in understanding what we're actually paying for. The loan terms are good so we'll move forward.
Yara Nassar
•Smart decision. The UCC fees are a small price to pay for the legal protection and better interest rates that come with secured financing.
Ryder Greene
Had a nightmare scenario last year where we thought we had perfected security interests in equipment but turns out half of it was actually fixtures and should have been filed as fixture filings with the real estate records. Cost the client big time when they tried to enforce. Now I always use tools to double-check everything - found Certana.ai really helpful for catching these kinds of inconsistencies before they become problems.
0 coins
Ryder Greene
•It's a facts-and-circumstances test - how attached is it, was it intended to be permanent, would removing it damage the building. When in doubt, file both ways.
0 coins
Victoria Brown
•The fixture vs equipment distinction is one of the most litigated areas in Article 9. Better safe than sorry.
0 coins
Carmella Fromis
Article 9 covers way more than just equipment financing. Accounts receivable, inventory financing, chattel paper, deposit accounts (sometimes), general intangibles - basically any transaction where personal property secures an obligation. The trick is understanding the different perfection methods for different types of collateral.
0 coins
Gabriel Freeman
•That's what I was hoping. One filing to rule them all.
0 coins
Theodore Nelson
•Just make sure your debtor name is exactly right. I've seen filings become worthless because of typos in the debtor name.
0 coins