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The document is the minutes of a public hearing held by the Council on Development Finance on June 18, 2007, in Dover, Delaware. It details discussions and decisions regarding various loan and grant requests from organizations including St. Francis Hospital, Peninsula United Methodist Homes, MYZACA, LLC, American Neon Products/The Change-a-Brill Co., Wilmington PharmaTech, ANP Technologies, Innospec Fuel Specialties LLC, and Data Management Internationale, Inc. The council reviewed each request based on criteria such as financial responsibility and contribution to public welfare and economic development in Delaware.

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Why would the IRS file an UCC?

If the IRS wants to file a statewide tax lien against a taxpayers personal property, the document evidencing the lien will be filed with the secretary of states office. Most states (if not all) index the IRS liens along with the UCC-1 financing statement liens.

What is a UCC-1 form used for?

Simply having a UCC lien is not bad for your business it serves as an official notice to other creditors that your lender has a security interest in one or all of your assets. However, if you end up defaulting on that business loan, or need additional funding, the UCC filing could have an impact in several ways.

Why file a UCC-1 on yourself?

What Are the Benefits of Filing a Uniform Commercial Code-1 (UCC-1) Statement? Filing a UCC-1 allows creditors to collateralize their loans by utilizing the personal property assets of their customers.

Is a UCC filing good or bad?

UCC filings are common among lenders, especially when providing small business loans. The good news is that having a UCC lien is unlikely to affect your business unless you cant make your payments or try to get additional financing using the same assets as collateral or if you default on the loan.

Can an UCC lien take money from your bank account?

A creditor with a UCC lien against your assets could go after things like cash from your bank account, your car or personal property, and any assets in the UCC-1 filing. States place rules to protect equity of your home, a personal vehicle, retirement funds, and business equipment.

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What is the purpose of filing a UCC-1?

A creditor files a UCC-1 to provide notice to interested parties that he or she has a security interest in a debtors personal property. This personal property is being used as collateral in some type of secured transaction, usually a loan or a lease.

Ucc 1 form strawman 2025

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