A Uniform Commercial Code (UCC) filing Is an official filing that allows a lender to claim a legal interest in the assets of a business which are pledged or collateralized against a loan to that lender. UCC filings are common practices amongst lenders who specialize in small business loans. The UCC filings can cover individual assets or items of collateral, multiple items of collateral, or a “blanket” lien that covers all existing and future assets of the borrowing business.
UCC Filings are created within the state the business operates in. DreamSpring requires UCC filings on all loans it issues.