If the borrower defaults on the loan, the lender can seize the listed collateral to recoup the outstanding balance. A UCC-1 financing statement is a type of UCC filing that a lender files with the ...

Collateral acts as security for the lender if you default on the loan and can’t repay it for any reason. If your business is ...

loan of up to $25,000 without collateral. Even with some unsecured financing options, though, lenders may still file a UCC-1 statement with a blanket lien. This is common with merchant cash ...