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North Dakota UCC1 Financing Statement Addendum North Dakota Form

North Dakota UCC1 Financing Statement Addendum North Dakota Form

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Hi I'm Ian Varley, CEO of Eagle Business  Credit, and welcome to Eagle Eye. Today   we're going to be talking about UCC filings  and what they mean to you as a business owner.   So you own a business and you've  discovered that somebody has a UCC-1   filed on your business. What does  that mean? Why should you care? What it means: it's a statement of fact.  It's recorded at usually the state level   with the secretary of state, that a lender  owns certain collateral of your business.   What do I mean by collateral? Well if you  have real estate and you have a mortgage,   then the mortgage holder will file a lien on your  property. It's very similar but with a UCC it can   be on any asset of your business. So if you  have a lease on a truck or piece of equipment,   chances are that leasing company has filed a UCC  on that specific piece of equipment or truck that   you borrowed the money against that you obtainÂ

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