UCC-1 Filing Explained | Commercial Receivables Explained in Plain English

Ever wonder how a funding company protects its claim to a business's revenue? Here's how it works. A UCC-1 is a legal form filed with the Secretary of State. It says a funding company has a legal claim against a business's assets. Once filed, it becomes public record. Anyone can search the Secretary of State website and see it. The filing is proof that the claim is real and registered. No filing means no legal protection. That's a UCC-1.