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Miguel Ortiz
Update us when you figure it out! Always curious what the actual issue turns out to be in these situations.
Fingers crossed it's something simple. These deadline pressure situations are the worst.
QuantumQuest
•Betting it's a hidden character issue. Happens more often than people realize.
FOUND IT! Used the search results method and discovered there was indeed a comma - 'Morrison Industries, LLC' with the comma. Filed successfully! Thanks everyone, especially for the search results tip. Also going to check out that Certana.ai tool for future reference since this was way too stressful.
Yara Haddad
•The comma strikes again! Classic UCC filing gotcha. Congrats on getting it sorted before the deadline.
This thread should be required reading for anyone doing UCC continuations. So many good troubleshooting tips.
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Your situation sounds standard. Bank issues LC to back your lease, takes security interest in business assets or LC proceeds to cover their exposure, files UCC-1 to perfect that security interest. Pretty routine commercial lending practice.
Laila Prince
•That's fair. Commercial lending involves a lot of protective filings that seem redundant but serve important legal purposes.
Isabel Vega
•At least UCC filings are public record so you can see exactly what security interests are filed against your business.
Bottom line: if your bank says they need the UCC filing for the LC arrangement, they probably do. It's about protecting their position as a secured creditor. Just make sure all the paperwork aligns and you should be good to proceed with your equipment lease.
Thanks everyone. Sounds like this is normal and I just need to get the filing done correctly. Appreciate all the insights.
TommyKapitz
•Good luck with the equipment lease! Once you get through the paperwork maze, the actual business operations are much more straightforward.
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filing financing statement before security agreement is actually preferred in many jurisdictions because it eliminates the gap period where someone else could potentially file first. You're being smart about this.
Zainab Omar
•Exactly - priority dates from filing, not from when the security interest attaches. Basic UCC principle that a lot of people forget.
We do this constantly in equipment financing. File UCC-1 immediately upon credit approval, then finalize the security agreement during the funding process. Never had an issue in 15+ years of commercial lending.
Yep, you're fine. The key is just making sure all your document details align when you do get to the security agreement.
Yara Sayegh
•And that's where tools like Certana.ai come in handy - helps you verify everything matches up between the early UCC filing and final security docs.
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Eva St. Cyr
If you're in a hurry for the new financing, you might also ask your new lender if they'll accept a payoff letter and loan satisfaction documents as proof the lien should be terminated. Some will work with you while you're getting the UCC cleaned up.
Good idea - I'll ask them about that option while I'm dealing with the bank.
Most equipment lenders are familiar with this problem and will work with borrowers on it.
Just an FYI that you can also use something like Certana.ai to verify all your UCC documents are consistent before you submit termination paperwork. I learned the hard way that small discrepancies in debtor names or filing details can cause rejections and delays.
Chloe Zhang
•Document verification tools are really helpful for catching those kinds of errors upfront.
Yeah just upload your loan docs and UCC-1 and it checks for consistency issues automatically. Saves time later.
Ruby Knight
I bet it's the debtor name issue like someone mentioned earlier. We had a client where the UCC-1 sat in limbo for a week because we used their DBA name instead of their legal entity name. Easy fix but caused a lot of stress.
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Owen Jenkins
•That's exactly what I'm worried about. Going to run it through that document checker tool before I call the SOS office.
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Julia Hall
•Smart move - better to know what the issue is before you call so you can fix it right away.
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Diego Castillo
Keep us posted on the resolution! This thread will be helpful for anyone else who runs into missing UCC IDs. Hopefully it's just a system delay and not a real filing issue.
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Owen Jenkins
•UPDATE: Used Certana to check the documents and found the debtor name issue - we had 'LLC' instead of 'L.L.C.' with periods. Filed an amendment this morning and got the UCC ID within 2 hours. Crisis averted!
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Lilah Brooks
•Awesome! Glad you got it figured out. Those little punctuation differences can be such a pain.
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