Services for Factoring Companies

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Streamlined UCC Solutions for Factoring Professionals

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 14 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.

UCC Services for Factoring Professionals

“First Corporate Solutions’ monitoring programs offer vital layered protection and seamless integration … We rely on their timely alert notifications on filings of numerous lien types which can threaten our perfected security interests, including Federal Tax Liens.”

Sharman McVay, Vice President, Crestmark Bank

[Blog Post] UCC-3 for Factors: Understanding and Navigating Changes to UCC Filings

As the world of finance continues to evolve, the importance of keeping up with regulatory changes cannot be overstated. For those in the factoring industry, specifically, understanding and adhering to the Uniform Commercial Code (UCC) is crucial.

The UCC lifecycle begins with a properly filed UCC-1 Financing Statement. This filing serves as a public notice of the secured party’s interest in the debtor’s collateral and establishes claim priority position in the event of a debtor default

But what happens if a debtor name changes or if the life of the loan extends beyond 5 years when the original UCC-1 would expire?

This is where UCC-3 filings come in.

What Is a UCC-3 Filing?
A UCC-3 filing is a document filed under the Uniform Commercial Code to make amendments to a previously filed UCC-1 financing statement.

>> Read the full post here

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