Glossary · Legal and compliance
UCC-1 filing
A UCC-1 is a public financing statement a funder files with a state to record its interest in a merchant's receivables; brokers search them to find existing positions.
Also called UCC-1, UCC filing, UCC lien, financing statement
Under the Uniform Commercial Code, a creditor or purchaser of receivables generally files a UCC-1 with the secretary of state where the business is organized. For an MCA funder it puts the world on notice of its interest in the merchant's receivables.
Brokers and funders use UCC searches to spot other funders on a file, which helps confirm the positions seen on bank statements. UCC filings are also sold as lead lists, since a filing shows a business that has used financing before; cold outreach to those lists carries the highest TCPA and do-not-call risk.
Filing rules and lien priority vary by state and by contract. This is general information, not legal advice.
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