What is a UCC filing and do Unsecured Business Lines of Credit’s require them?
A UCC filing is almost like a mortgage against your business. The UCC’s will be seen by other lenders who you apply with in the future. When obtaining lines of credit make sure you find out if the lender will take a UCC against your business or not. This is not necessarily something that should always be avoided but it is something that should be planned and part of a strategy so that you allow the right lenders to utilize UCC’s when they are required by the lender.
Related Questions
- Why do banks and equipment leasing organizations look at personal credit and require personal guarantees from business owners?
- Why do banks and equipment leasing companies look at personal credit and require personal guarantees from business owners?
- What is a UCC filing and do Unsecured Business Lines of Credits require them?
