UCC Stands for Uniform Commercial Code

The Uniform Commercial Code (UCC) is a standardized set of laws governing commercial transactions in the United States. Article 9 of the UCC covers secured transactions — situations where a lender takes a security interest in a borrower's assets.

A UCC-1 financing statement is the document a lender files to publicly declare that security interest.

What a UCC-1 Filing Does

When a lender files a UCC-1 statement, it becomes a public record — searchable by other lenders and creditors. The filing declares that the lender has a security interest in specified assets of the business.

This matters because it establishes priority: if a business defaults, the lender with the earliest UCC filing generally has the first claim on the specified assets.

What Assets Can a UCC Filing Cover?

A UCC filing can cover specific assets (a piece of equipment, a vehicle) or all business assets broadly — known as a blanket lien. Blanket liens are common with merchant cash advances and some alternative lenders. Specific asset liens are more common with equipment financing.

How UCC Filings Affect Future Financing

When you apply for additional financing, lenders will typically search for existing UCC filings on your business. An existing filing signals that another lender has a declared interest in your assets.

This doesn't automatically prevent additional financing, but it is a factor lenders consider. Some lenders require existing filings to be terminated before proceeding. Others are comfortable working alongside existing filings.

How to Check for UCC Filings on Your Business

UCC filings are public records. You can search for filings on your business through your state's Secretary of State website. Searching by your business name and EIN will show any active filings.

Important Considerations

Wall Street Financing LLC does not provide legal advice. If you have questions about specific UCC filings on your business, consulting with a business attorney may be appropriate.