UCC-1 form

The UCC-1 form is a legal document used by creditors to publicly record a security interest in a borrower’s personal property or assets. Essentially, it signals that the lender has a claim to certain assets if the borrower defaults on a loan. This filing protects the lender’s interests and establishes priority over other creditors. It’s commonly used in business financing and certain types of loans to ensure that the lender’s security interest is officially documented and recognized by law.