1 / 12

Everything you need to know about the ucc filing

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/

michaelgavin
Download Presentation

Everything you need to know about the ucc filing

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. EVERYTHING YOU NEED TO KNOW ABOUT THE UCC FILING www.onlinecheck.com

  2. What is UCC Filing?

  3. 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.

  4. 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?

  5. Now that you know about UCC Filings, lien and eligible assets, let us explore the two major types of UCC Lien.

  6. Specific Collateral Lien

  7. Blanket Lien

  8. How does a lender workaround UCC Filings? • 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.

  9. How is UCC Filing relevant to my business? How is UCC Filing relevant to my business? Keep yourself updated with the UCC Filings! When you are applying for a new loan, make 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!

  10. The goal of the Merchant Advisors is to offer the best business loans to the borrower. VISIT TODAY@ WWW.ONLINECHECK.COM

  11. GET IN TOUCH E-mail info@merchantadvisors.com Address 9-5 Novelty Lane Suite B Essex, Ct 06426 Phone (833) 827-4412

More Related