Filing COVID-19 EIDL Uniform Commercial Code (UCC) Continuation Statements

The purpose of Amendment 2 is to respond to the Questions and Answers received.

All other terms and conditions remain unchanged

The Small Business Administration (SBA) obtained a security agreement and filed a Uniform Commercial Code (UCC) financing statements on all personal property for all COVID-19 Economic Injury Disaster Loans (COVID EIDLs) that were made in loan amounts greater than $25,000. The UCC financing statement covers all tangible and intangible personal property, with certain exceptions including registered copyrights, certain non-inventory titled goods, and farm products.

The Uniform Commercial Code (as adopted by most states and territories in .... Read More

The Small Business Administration (SBA) obtained a security agreement and filed a Uniform Commercial Code (UCC) financing statements on all personal property for all COVID-19 Economic Injury Disaster Loans (COVID EIDLs) that were made in loan amounts greater than $25,000. The UCC financing statement covers all tangible and intangible personal property, with certain exceptions including registered copyrights, certain non-inventory titled goods, and farm products.

The Uniform Commercial Code (as adopted by most states and territories in some form) requires a "continuation statement" to be filed within 6 months before the 5-year anniversary of the original filing date. A continuation .... Read More