Need A Marketing List For Your Lending Solutions? Try Secured Party SearchesMarch 10, 2017 UCC
Looking to market your financing solutions to a needy target base? Want to know what businesses are already utilizing the funding solutions you provide?
Even though UCC search and file service providers go to great lengths to keep their customers’ data secure by utilizing technology and in-house procedures to safeguard data and protect it from outside sources, the nature of the Uniform Commercial Code nevertheless exposes an important part of a lender’s confidential data to the public: their client list.
Lenders rely on security interests to manage their risk and perfect their security interests by filing UCCs, but this process puts their client list in the public record; every debtor on a UCC is that secured party’s customer! With every UCC financing statement filed, lenders expose their client list to their competitors.
You can access this data by conducting what is known as a reverse search, or secured party search. It’s standard industry practice and the process is easy; instead of performing a search of an index based on a debtor name, perform the search of an index based on a secured party’s name. The corresponding results list that is created of that secured party’s debtors is, you guessed it, that secured party’s customer list.
It’s that simple.
Interested in learning more? Contact us today to schedule a consultation with one of our UCC experts to learn more about how Secured Party Searches can help your marketing efforts.