This form is a Uniform Commercial Code Financing Statement for your state. This form is filed with the proper authority to perfect a lien on personal property representing security for a loan, usually a purchase money loan.
Lee's Summit Missouri UCC1 Financing Statement
State:
Missouri
City:
Lee's Summit
Control #:
MO-UCC1
Format:
PDF
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Description
How to fill out Missouri UCC1 Financing Statement?
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FAQ
How Does a UCC Filing Affect My Credit? A UCC filing won't impact your business credit scores directly because it doesn't indicate anything about your ability to repay your debts. However, it can affect your ability to get credit again in the future.
You can find Uniform Commercial Code information on any person or corporation in Missouri or other states by performing a search on the UCC website of the state or territory where the person resides or the corporation is registered.
In fact, it is sometimes called a UCC financing statement. A creditor files a UCC-1 to provide notice to interested parties that he or she has a security interest in a debtor's personal property. This personal property is being used as collateral in some type of secured transaction, usually a loan or a lease.
As of July 2008 Uniform Commercial Code (UCC) searches are no longer performed at the Recorder's Office. You can set up an account to file your UCC's online with the Secretary of State's office. Contact the Missouri Secretary of State's Uniform Commercial Code Division online.
UCC filings are public information, and all of the details on a UCC-1 form are available to the public.
A uniform commercial code (UCC) filing is a notice registered by a lender when a loan is taken out against a single asset or a group of assets. A UCC filing creates a lien against the collateral a borrower pledges for a business loan. The uniform commercial code is a set of rules governing commercial transactions.
The UCC-1 statement serves as a lien on secured collateral, where the components and filing procedures are comparable to the lien requirements in residential mortgage loan contracts.
There are two simple methods for finding UCC filings. The first method is to refer to your business credit history. The second method is to search for your business name on your secretary of state's online database.
How do I get rid of a UCC filing? You can remove a UCC filing when you've repaid your business loan in full. Once you repay the debt, the lender should remove the lien from your business assets. If not, you may request that the lender files a UCC-3 to terminate the lien.