Financial Institutions

Commercial Bank | Asset-Based Lender | Factor | Equipment Leasing | Solar

Solutions for Finance Professionals

As a Commercial Bank, you provide loans secured by hard collateral to help businesses fund their operations or other large capital expenditures they would otherwise be unable to support. First Corporate Solutions (FCS) works diligently to design products and services that specifically address your business requirements. The FCS fleet of services empowers you to evaluate applicants quickly, monitor existing customers and close transactions with confidence and ease.

As an Asset-based Lender, you provide loans secured by collateral (assets) like inventory, accounts receivable and other balance-sheet assets. First Corporate Solutions (FCS) is widely recognized and respected for our unique understanding of the needs of Asset-Based Lenders.

Depend on FCS’ dedicated staff of Account Managers to support your public records needs and rely on our long history of designing industry-leading products and services that specifically address your business requirements and support your growth. Look no further than our industry standard Account Monitoring, a post-filing recurring search service that provides prompt and accurate alerts on liens and other public record events of note which could adversely affect your perfected security interest.

The FCS fleet of services empowers you to evaluate applicants quickly, monitor existing customers for continued credit worthiness and close transactions with confidence and ease. The FCS fleet of services empowers you to evaluate applicants quickly, monitor existing customers for continued credit worthiness and close transactions with confidence and ease.

As a Factor, you provide capital to businesses by purchasing their accounts receivables (invoices) at a discount. First Corporate Solutions (FCS) is widely recognized and respected for our unique understanding of the needs of Factors and has been a preferred vendor of the International Factoring Association for over 10 years.

Depend on First Corporate Solutions’ dedicated staff of Account Managers to support your public records needs and rely on our long history of designing industry-leading products and services that specifically address your business requirements and support your growth. Look no further than our industry standard Account Monitoring, a post-filing recurring search service that provides prompt and accurate alerts on liens and other public record events of note which could adversely affect your perfected security interest.

The FCS fleet of services empowers you to evaluate applicants quickly, monitor existing customers for continued credit worthiness and close transactions with confidence and ease.

As an Equipment Leasing and Financing provider, you help businesses gain access to the tools and equipment they need to spur growth and success with payment options they can manage. Rely on First Corporate Solutions to support your growth and success with our knowledgeable and experienced staff of public records specialists. Focus your energies on the other responsibilities entrusted to you while we accurately and promptly help you address your UCC and security perfection needs.

As a financing provider to the evolving solar industry you face unique challenges to perfect your security interests. From keeping up with ever changing jurisdictional requirements for UCC fixture filings, to searching for the proper legal descriptions required for these filings, the challenges can be daunting and eat up valuable internal resources. First Corporate Solutions professionals have the industry experience and specific subject matter expertise to resolve these issues. Focus your energies on the other responsibilities entrusted to you and rely on FCS to accurately and promptly help you address your UCC and security perfection needs.

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Testimonial


The FCS online service has been wonderful! It is important to our business that the UCCs are filed with the appropriate State as quick as possible. Before this, preparing a UCC was a very time consuming process. With this online service, we have been able to cut out many steps to the preparation and processing of UCCs and expedited the filing time. This service is a definite enhancement to our business processes.

Debbie H.
Manager, Investment Lending & Leasing Company, CA

Case Study

Background

As the Operations Manager for a national Factor company, Shannon understands the need to establish and maintain her firm’s perfected security interests. Her company’s clients range from start up companies to established firms, so when it comes to nationwide UCC and corporate services, she cannot afford to lose valuable time with slow turnarounds. Nor can she afford to miss valuable filing information such as federal tax liens or UCCs in her efforts to perfect her firm’s security interests.

Challenge and Solutions

In order to keep with her firm’s high standard of reliability and thoroughness, she needed to find a UCC and corporate service provider that had qualities specific to the factor market. “In our business, we need to know everything pertaining to our client’s financial status before we fund, and we must monitor that status after we fund,” said Shannon.

Shannon started using First Corporate Solutions in November of 2003 because of their competitively priced fee structure and their comprehensive search/file/monitor services. “Before we started using First Corporate Solutions, we used different service companies to search or file, and another to monitor our debtors. Now we can utilize just one, First Corporate Solutions, to address all three. One-stop shopping is easier to manage for me.”

“Before, a couple of federal tax liens attached to our existing debtors at the county had gone unnoticed until it was almost too late,” Shannon recalled. “Now, with their Account Monitoring service program in place, we are informed of these liens in time for us to be more proactive. I don’t know of any monitoring service like it; they keep an eye on federal tax liens for us at both the state and county level.”

After using First Corporate Solutions’ national array of search and filing services for a year, Shannon knew she had found a solution she could rely upon; she knew she was receiving the accurate and timely information she needed to help establish and maintain her firm’s perfected security interest. “We have received alert notifications of federal tax liens and UCC filings, which you can imagine, have helped save our firm from heavy potential losses. Our switch to First Corporate Solutions equaled higher revenue, less time wasted, and a lot less headache.”

Results

  • Shannon’s firm averted revenue losses by receiving alert notifications of federal tax liens levied against their debtors in time for them to respond proactively.
  • Due to faster turn-around times on searches, Shannon’s firm was able to promptly decide whether to offer their clients the financial services they requested.

Background

Last year, Lisa received a promotion to Branch Operations Manager at the midsize bank where she works. Bank management was concerned about the cost and turn around time they were encountering to process their pre-funding searches and UCC filings. Lisa was asked to review her branch’s process for coordinating due diligence search efforts and UCC filings and implement a better solution.

Challenge and Solutions

“Our clients need to be funded as soon as possible and we were forced to pay our service provider costly rush fees in order to meet our customers’ needs,” said Lisa. She began making phone calls in an effort to find a full service provider that could deliver a quality product quickly and at a fair price. She was looking to build a relationship with a company she could count on. “I didn’t have a lot of experience with searching and filing and I was pretty intimidated, but First Corporate Solutions took the time to educate me and help me understand the process so I could make an informed decision.”

After speaking with several service providers Lisa choose First Corporate Solutions as her team’s new public records service provider. “After weighing all of my options, First Corporate Solutions was the obvious choice. Their integrated online search and filing system was a great fit for our organization. It really helped us manage our transactions and cut costs. That paired with their great service made our decision to switch an easy one.”

Lisa’s staff began using First Corporate Solutions in March of 2007. Bank management is thrilled with the cost savings, speedy turn around and excellent service they receive from First Corporate Solutions. Lisa recently proposed that all bank branches adopt First Corporate Solutions as their preferred vendor. “The change has been so positive for our branch. I’m confident our organization could benefit from a large scale switch.”

Results

  • By utilizing First Corporate Solutions’ Efiling technology, the bank has dramatically reduced their cost for UCC filings
  • Due to improved turn around for searches and immediate online solutions, Lisa’s bank has reduced their funding cycle by 20%, allowing them to better service their clients and remain competitive in the industry.

 

Resources

PDF Identifying Synonymous Corporate Terms

Interact With Corporate Documents With Confidence When You Understand State Filing Office Terminology

PDF An Overview of Good Standing Certificates

Use This Reference Guide to Familiarize Yourself with Good Standing Certificates

PDF Plain v. Certified Copies of Corporate Documents

Do You Need Plain or Certified Copies of Corporate Documents? Use This Reference Guide to Help You Decide

PDF Evolving Certification Techniques at State Filing Offices

Budget Cuts and Advancing Technology Have State Filing Offices Changing the Way They Certify Documents

PDF Solutions for Slow Processing Times

Budget Cuts Lead to Slow Processing Times for Public Records - Try These Tricks to Secure Documents in Time for Closing

PDF 3 Tips for Choosing a Public Records Service Company

Choosing a Service Provider can be a Daunting Task - This Reference Guide Offers 3 Tips to Help You Evaluate Your Options

PDF Basics of The Uniform Commercial Code and Article 9

The Uniform Commercial Code Guides Commercial Transactions in The United States - Read on to Learn More About The Code and Article 9, Secured Transactions

PDF UCC Financing Statements in Three Easy Pieces

The UCC1 Financing Statement Form is Filed to Give Constructive Notice of a Secured Party's Interest - Read on to Learn About What Information is Required on The Form

PDF Secured Party v. Filing Officer Responsibilities

The Secured Party, Not Filing Officer is Responsible for Accuracy and Completeness of a UCC Financing Statement

PDF Top 5 Mistakes on UCC1 Financing Statements

UCC Filing Mistakes Can Jeopardize a Lender's Ability to Collect on a Bad Debt - Watch Out For These Common Mistakes on Financing Statements

PDF Top 3 Mistakes on UCC3 Change Statements

UCC Filing Mistakes Can Jeopardize a Lender's Ability to Collect on a Bad Debt - Watch Out For These Common Mistakes on Change Statements

PDF When to File UCC3 Continuation Statements

A Lapsed Filing Can Cost a Secured Party Their Priority Position to Collect - Follow These Steps to Guarantee Timely Filing of Continuations

PDF Handling Accidentally Lapsed UCC Records

A Lapsed Filing Cannot be Revived, But You Do Have Options - Read on to Learn About What You Can do to Minimize Your Risk in the Event of an Accidentally Lapsed UCC

PDF Tackling Fraudulently Filed Termination Statements

Don't Panic - You Have Options When Dealing With Fraudulently Filed Terminations

PDF UCC Filings on Sole Proprietorships

Sole Proprietorships are Considered Individuals, Not Businesses in the Eyes of the Uniform Commercial Code

PDF Rejected UCC Filings v. UCC's Accepted with Errors

Rejected UCC Filings are Costly and Inconvenient, but a Filing Accepted with Errors Can Be Even More Dangerous

PDF Tips for Reducing UCC Filing Costs

Keep Your UCC Filing Costs Down by Adopting Some or All of The Best Practices Discussed in This Reference Guide

PDF To Properly Identify Debtors, Omit dba Notation From UCC Filings

UCCs Filed with a Trade Name Attached to the Business Name May Fail to Properly Identify the Debtor under Revised Article 9

PDF Tips for Avoiding UCC Rejections

Rejected Filings Cost Secured Parties Time and Money - Follow These Simple Steps to Avoid Rejection of Your UCC Filings

PDF Refer to Organizing Paperwork for Legal Name of a Business Debtor

A UCC is Only Perfected if it Gets the Debtor Name Right - This Guide Provides Information on Determining the Correct Name for UCC Filings on Business Debtors

PDF UCC Filings with Missing Attachment Pages Pose Risk for Secured Parties

Collateral Statements are Often Included as Attachment Pages for UCC Financing Statements - This Guide Discusses the Dangers of Missing Attachments

PDF Minor Formatting Changes May Occur on E-Filed UCC Documents

E-Filed UCC Documents May Undergo Minor Formatting Changes - Read on to Learn What Kind of Changes You Can Expect

PDF Purpose of Pre-Filing UCC Financing Statements

In the Race to be First to Collect, Some Lenders Pre-file UCC Financing Statements - This Reference Guide Provides Information

PDF When is a Terminated UCC Record not Really Terminated?

There Are a Few Occasions Where a UCC Record with a Corresponding Termination Statement Can Still Be Effective - This Reference Guide Provides Information on this

PDF What Party Names to Search

It is Important to Search All Names Under Which Liens Could be Filed - This Reference Guide Provides Information on Determining What Party Names to Search

PDF What Liens to Search For

Manage and Mitigate Your Risk With a Comprehensive Due Diligence Search Package

PDF Where to Perform Lien Searches

Searching the Correct Filing Offices Helps Avoid Surprise Liens

PDF 3 Quick Tips for Effective Lien Searching

Follow These Simple Searching Tips to Improve the Quality of Your Lien Searching Efforts

PDF 3Tips for "Reading" Your UCC Search Report

UCC Search Reports Vary in Appearance and Contain Different Information Depending on the Data Source - This Reference Guide Provides Tips for Interpreting UCC Results

PDF Why Name Variations Matter in UCC Searching

For the Greatest Peace of Mind, Look for UCC Search Solutions That Reveal Similar Names

PDF Limitations of State Direct Online Searches

Before Using Any Online UCC and Lien Search System, be Sure to Evaluate it Carefully to Understand Its Limitations

PDF Benefits of Searching for Tax Liens and Judgment Liens

Tax Lien and Judgment Lien Searches are a Critical Part of a Thorough Due Diligence Investigation

PDF Alert Searcher to Expected Hits

Save Time by Letting Your Searcher Know up Front if You Expect Hits on a Lien Search

PDF Lien Monitoring Programs: What Liens to Search For

The Sooner a Creditor Knows About a Lien, the Sooner They Can Act to Protect Their Interests - Lien Monitoring Programs Provide Early Notification of Potential Credit Risks

PDF Benefits of a Search to Reflect

A Search to Reflect Confirms Proper Indexing of a UCC Filing and Verifies its Position Relative to Other Creditors

PDF How Long to Wait to Order a Search to Reflect

A Search to Reflect is a Critical Final Step in Your UCC Filing Process. This Reference Guide Provides Information on How Long to Wait After Filing to Order a Reflective Search

PDF Tips for Reducing Search Costs

Don't Cut Corners in Your Lien Searches, Incorporate These Cost Saving Strategies to Keep Due Diligence Costs Down

PDF Search to Include Similar Names to Locate Tax Liens and Mis-Indexed Filings

Watch Out for Exact Name Lien Searches - This Guide Discusses Why it is a Good Idea to Include Name Variations in Your Lien Searches

PDF No Need to Order a Nationwide UCC Search

The Uniform Commercial Code Establishes Guidelines for Where UCCs are to be Filed - Save Time and Money by Performing Focused UCC Searches

PDF Broad Based Name Searching: What is it? Why is it Important?

Broad Based Name Searching Features are Powerful Tools That Help Searchers Uncover Name Variations and Locate Mis-Indexed Filings

PDF Keeping Copy Costs Down for Your UCC and Lien Searches

High Copy Costs Can Inflate Diligence Invoices - This Guide Discusses Strategies for Keeping Copy Costs Down

PDF Costs for Performing a UCC, Lien, Litigation or Bankruptcy Search

The Fees Associated with Due Diligence Searches Can be Confusing - This Guide Offers Information on What Fees You Can Typically Expect

PDF Importance of County-Level Lien Monitoring

State-Level Only Monitoring Programs Only Tell Part of the Story - This Guide Discusses the Importance of Monitoring for Liens at the County-Level

PDF UCC Searches Might Reflect Filings More Current Than the Through Date

A UCC Search Might Show UCCs Filed Beyond the Search's Through Date - This Guide Discusses Why

PDF Maximize UCC and Lien Search Results to Minimize Risk

This Guide Discusses Maximizing Lien Search Results as a Strategy for Uncovering Hidden Lien and Locating Critical Filings Under Name Variations

PDF Why Many Businesses Organize in Delaware

Simple Set up and Business Friendly Laws Draw Many Businesses to Delaware

PDF Preclearance Filing Service in Delaware

State of Delaware Offers Preclearance Review of Corporate Documents to Help Guard Against Rejections

PDF Delaware UCC Searching

With So Many Businesses Organizing in Delaware, it Has Become a High Volume UCC Search State - Read On to Learn About UCC Searching in Delaware

PDF Delaware State Noise Words

Delaware State UCC Search Logic Drops Certain Noise Words from Search Strings

PDF Ordering a Civil Litigation Search

Order a Civil Litigation Search to Achieve the Best Results - This Reference Guide Walks You Through the Five Pieces of Information You Will Need to Give Your Searcher

PDF Civil Litgation Search - What Court to Search

Most Customers Search the State Court of General Jurisdiction and U.S. District Court as Part of Their Pre Funding Due Diligence

PDF Civil Judgments v. Judgment Liens

A Civil Judgment is a Good Indicator of a Prospect's Character, but a Judgment Lien is the Piece That Can Jeopardize a Lender's Ability to Collect