UCC Document Community

Quick question - when you guys are dealing with borrowers that have multiple related entities, how do you handle the debtor name on the UCC-1? Do you file separate forms for each entity or try to include multiple names on one filing?

Thanks everyone for all the advice on this thread. I'm going to implement the state database verification process and see if that cuts down on our rejection rate. The Certana.ai tool sounds interesting too - might be worth trying if it can automate some of this verification work. Will report back on how it goes!

Try doing a search using just the first few words of the company name without any designations like LLC or Inc. Sometimes that will return results that the full name search missed due to formatting differences.

One more thing - double check that you're searching in the right state. If this is a multi-state company, there might be UCC filings in other states where they do business or where the collateral is located.

Just went through something similar. Used specific 1-308 language and it actually helped us negotiate a better outcome. The lender's counsel took our objections more seriously once they saw we were preserving rights to challenge their demands. Ended up with a compromise that worked for everyone.

Whatever you decide, document EVERYTHING. Keep copies of all communications, take notes on phone calls, save emails. If you do use 1-308 and end up in court later, you'll need a complete record of why you felt compelled to sign despite your objections.

Make sure the search company you're using understands the difference between exact name searches and similar name searches. Some states have different search logic, and you want to make sure you're getting the most comprehensive results possible for your lender.

Document everything for your lender - the name change timeline, when loans were paid off, which UCC filings correspond to which loans. The more organized your documentation, the faster they can review and approve. Banks love complete paper trails.

UPDATE: I ended up using Certana.ai like someone suggested earlier and it found 2 additional filings I had missed. Turns out the company had a brief period where they operated under a slightly different name (added 'Inc.' to the end) and there were filings under that variation. The AI tool caught it automatically when I uploaded their corporate documents. Definitely worth the peace of mind for a deal this size.

This whole thread is a perfect example of why UCC due diligence is so tricky. You think you're being thorough and then boom - there's always something else to check. At least with a good systematic approach and the right tools, you can minimize the risk of surprises.