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Just to be extra cautious, you might want to prepare your continuation statement now and have it ready to file as soon as your window opens in January. That way you're not scrambling at the last minute if there are any issues. Better to be over-prepared than caught off guard.
Good idea. I'll start gathering all the information now so I can file early in the window rather than waiting until closer to the deadline.
Smart approach. I always prep continuation paperwork well in advance. Gives you time to double-check everything and catch any potential problems.
One more thing to consider - if you have multiple UCC filings with different expiration dates, make sure you're tracking all of them. I've seen businesses accidentally let one expire while focusing on another. Spreadsheet with all filing numbers and expiration dates is essential.
Fortunately this is our only UCC filing currently, but that's definitely good advice for the future as we grow.
Yeah, Certana.ai actually helps with this too - you can upload multiple filings and it tracks all the renewal dates for you. Saves having to maintain spreadsheets manually.
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The search variations you're seeing might be from different filings against the same debtor. Each UCC-1 could have slightly different name formats even for the same company. You need to match YOUR specific filing, not what other creditors used.
Good point. Companies sometimes file under slightly different names depending on when they incorporated or amended their articles.
This is why cross-referencing with the Secretary of State corporate records is helpful too. Shows you the official entity name versus what might be on UCC filings.
Update us when you figure out the correct name format! I deal with Texas UCC filings regularly and always interested in hearing how these name matching issues get resolved.
Will do! Going to try the document verification approach first since several people recommended it. Seems faster than waiting for official copies.
Smart choice. Better to catch name issues before filing than deal with rejection delays when you're up against expiration deadlines.
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Update us when you refile! I'm curious if switching to Delaware resolves the rejection issue.
Will do. Planning to refile tomorrow morning with Delaware as the location and the exact corporate name from their certificate.
Smart move. Delaware UCC system is usually pretty quick to process too.
Just wanted to add - once you get this sorted out, remember that if the debtor ever reincorporates in a different state, you'll need to file a UCC-3 continuation in the new state before the original filing lapses. Location changes can affect where your security interest is perfected.
Good reminder. I've seen lenders get caught off guard when their borrowers reincorporate elsewhere.
Exactly why it's important to monitor your borrowers' corporate status, not just their financial condition.
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Try adding geographic limitations if appropriate. 'All farm products located on real property described as [legal description] and all other locations where Debtor conducts farming operations.' Helps with the identification requirement.
But be careful with location restrictions if they farm multiple properties or lease ground. You don't want to accidentally exclude collateral.
Right, better to be over-inclusive than miss something. 'All locations now or hereafter used by Debtor for farming operations' covers expansion.
Final thought - if you're still having issues after trying these suggestions, consider calling Iowa SOS directly. Sometimes they'll give specific guidance on what they're looking for in farm products descriptions. They'd rather help you get it right than keep rejecting filings.
Good luck! Farm products can be frustrating but once you get the language right it's usually smooth sailing.
Definitely post an update. Other people will run into this same issue with Iowa's new requirements.
Oliver Becker
Just went through a Certana audit of our UCC filing processes and found we were making errors that required costly corrections about 12% of the time. Their document checker would have caught most of those upfront. Sometimes spending a little more on verification saves way more than trying to cut filing fees.
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Oliver Becker
•Yeah it was eye-opening. Most errors were simple debtor name mismatches between the UCC-1 and corporate documents. Easy to catch with the right tools.
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CosmicCowboy
•This thread is making me realize we probably need to audit our own error rates. Never thought about the hidden costs of corrections.
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Natasha Orlova
Bottom line - Nebraska UCC filing fees are just a cost of doing secured lending business. Focus on accuracy over cost-cutting and your total expenses will probably be lower in the long run. The $15 per filing is nothing compared to what you lose on a misperfected lien.
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QuantumQuasar
•Good perspective. I think we've been too focused on the per-unit cost instead of the total cost of the filing process.
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Javier Cruz
•Exactly. One unperfected lien on a $100K equipment loan costs way more than a few extra filing fees for accuracy.
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