what do you do if you have a UCC filing, and how does this effect getting funding or business loans?

Qualifying for business funding is often a difficcult , anxiety riddled process.

​To reduce your risk to the lenders/funders and increase your viability of approval, a lender needs to believe that getting money to your company is a smart financial decision. In other words, your business needs to have an acceptable levels of possible default or loss in the eyes of a lender, so in other words they need to be confident your business wont fail.

How can you achieve this level of reduced risk in the eyes of the funder for your business? Having solid business credit scores and a credible, established business with healthy profits is a great start and show you have a strong low risk business. However what should you do if this doesnt describe you...what if you have a ucc lien for instance?

In order to get approved for a business loan, business funding, or even a bond to do certain projects you may need to remove your UCC lien, once this is take care of your one step closure to the business funding you needed. GuaranteedBUsinessFunding.org is a great place to get this funding.

Still, even if you think your business has all its ducks in a row financially and credit wise, you need to know of another potential obstacle which may significatly diminish your chances for loan approval or business funding approval – the UCC filing.

You may have to take an oath to get the UCC lien removed?

you could be just one "oath" away from removing your UCC liens and getting the funding you need, even if you cant remove the UCC lien, you can still get funding from websites like GuaranteedBusinessFunding.org and other poor credit business funding resources.

How to Remove a UCC Lien (have a UCC lien released) 

​Rules vary by State around releasing a UCC lien after a borrower satisfied the debt. Basically there are a couple main paths to go about to get rid of the ucc lien. One way is by having the lender file a UCC-3 Financing Statement Amendment. Another way to remove a UCC filing is by swearing an oath of full payment at the secretary of state office.

First lets cover some basics on UCC liens, UCC filings...

What does it mean to have a UCC filing ?
what does UCC mean?
what is a UCC filing?

MCA and Cash advance funders, a well as leasing/mortgage companies have UCC liens built into there contracts often, to find a funder that doesnt require UCC liens, you may want to try GuaranteedBusinessFunding.org that provides business funding that has no UCC lien options.

 What does UCC even mean, obviously they are letters but what do they stand for?
In most situations they will stand for Universal, Commcercial Code .
 A UCC filing, also known as a UCC lien or a UCC-1, is a financing statement which lenders, business funders such as MCA funders, or cash advance funders will often file a UCC lien,  or others you are in debt to can file against your business with your secretary of state.

When you take out a secured loan or even if you do business funding , like a cash advance, MCA funding or if you are factoring receivables, the lender or the MCA business funder or the debt ower may file a lien to protect the asset(s) you committed to secure financing. This might be a piece of equipment, future credit card sales produced by your business, or future business receivables , a vehicle, property, or even a blanket lien naming all your assets. 


A UCC-1 protects a lender’s interests for five years (unless the lender refiles) and will typically be included on your business line of credit profile, and in some cases they will show on personal credit profiles if the person who received the funding gave a personal guarantee. 


Its good to remember that UCC filings are public records. Therefore, even if a UCC lien doesn’t show up on your business credit profile and personal credit reports for some reason, it might still come up if you apply for new business financing, business funding, or even for personal loans, jobs which check credit and possible your pesonal credit report in some circumstances.

Many people could say filing a UCC lien is a dity trick, or out right illegal, however UCC liens are widley used... why? you can contact the experts at GuaranteedBusinessFunding.org to find this out or finish reading this article....

Who might get a UCC lien against your business?

So who can file a UCC lien on your business? well this might surprise you...

Some of the most common UCC filers on businesses are

Cash Advance funders
MCA funders
Factoring companies
Commercial mortgage providers
Banks
Leasing companies
Any company that provides financing to your business
Anyone who privides a line of credit to your business.
Contractors or those that provide services to the business which are owed money.

Read, Review, Consult, ask queastions and then sign. Many UCC liens are signed off, unknown to the business owners, as the paperwork you sign may allow it, be sure to read all paperwork when receiving financing or funding, and ask queastions if there is something you dont understand. Never sign anything you did not read, or do not understand.