UCC Financing Statements

A UCC Financing Statement is a legal document filed by a creditor to publicly register their interest in a borrower’s personal property as collateral for a loan or credit agreement. It helps establish priority among creditors if the borrower defaults, ensuring the lender has a legal claim to specific assets. The statement includes details about the debtor, the secured party, and the collateral. Filing this document makes the secured interest official and publicly accessible, providing transparency and reducing disputes over who has priority if the borrower files for bankruptcy or defaults.