A public notice filed with the secretary of state recording a secured party’s claim against a business’s assets.
It names the debtor, the secured party, a collateral description and a filing date — and deliberately nothing else. It does not show the amount advanced, the terms, the outstanding balance, or whether the obligation has been repaid, which is why a filing on a long-settled advance looks identical to one on a live position.
Position
An individual outstanding advance against a merchant, counted in order — first position, second position, and so on.
Stacking
A merchant taking an additional advance while an earlier one is still outstanding, so multiple remittances draw on the same receipts.
UCC leads
Contact lists compiled from UCC filings, identifying businesses that have previously taken secured funding.
UCC-3 termination
A filing that releases or amends an existing UCC-1, most often recording that a secured party’s claim has ended.
Factoring
Selling outstanding invoices to a third party at a discount for immediate cash.
Blanket lien
A security interest covering substantially all of a business’s assets rather than specific identified collateral.
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