Everything you need to know about the ucc filing

michaelgavin

UCC filings or liens are a legal declaration from the lender to notify the interest in the collateral offered by the borrower. If you are applying for a business loan and offering the collateral to your lender to get a fair deal. Here is a complete guide: https://www.onlinecheck.com/blog/business-loans/everything-you-need-to-know-about-the-ucc-filing/

EVERYTHING YOU NEED TO

KNOW ABOUT THE UCC

FILING

www.onlinecheck.com


What is UCC Filing?


UCC (Uniform

Commercial Code) in 1952

published their first set of laws

so that sales and transactions

around the US can go with the

flow. Technically, UCC fillings or

liens are a legal declaration

from the lender to notify the

interest in the collateral

offered by the borrower.


• Office Equipment

• Receivables

• Inventory

• Huge machinery

• Vehicles

• Real estate and

commercial property

• Other valuable asset

owned by the borrower.

What assets

are eligible for

the UCC lien?


Now that you know about UCC Filings, lien and eligible

assets, let us explore the two major types of UCC Lien.


Specific

Collateral Lien


Blanket Lien


• Name of the borrower along

with the address.

• Name of the lender along

with the address.

• A clear description of the

asset presented as collateral.

How does a

lender

workaround

UCC Filings?


How is UCC Filing relevant to my business?

Keep yourself updated with the UCC Filings! When you

are applying for a How new is UCC Filing loan, relevant make to my business? sure all the previous

liens are taken care of. Often, a deal is on the final

moment between the lender and the borrower and

somehow UCC liens are still active. Checking all the

filings before proceeding, is a must!


T H E G O A L O F T H E

M E R C H A N T A D V I S O R S

I S T O O F F E R T H E B E S T

B U S I N E S S L O A N S T O

T H E B O R R O W E R .

V I S I T T O D AY @

W W W. O N L I N E C H E C K . C O M


GET IN TOUCH

E-mail

info@merchantadvisors.com

Address

9-5 Novelty Lane Suite B

Essex, Ct 06426

Phone

(833) 827-4412

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