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UCC leads, without the parts that make them useless

A UCC-1 is filed when a business finances equipment. It names the business, the lender, and what was pledged. That is a buying signal with a date on it — which is why everyone sells lists of them, and why most of those lists disappoint.

Three things go wrong with a bought UCC list, and all three are fixable:

  1. The same lead, again. Row volume is what gets quoted, so files are padded with what you were sent last month. We keep a delivery ledger per buyer and per filing; a row you have received is never in a later file.
  2. The lender is a string.If “exclude bank captives” or “MCA funders only” cannot be expressed, you are sorting the file by hand. Ours are resolved entities, so the segment is a filter rather than an afternoon.
  3. Collateral is an unreadable blob. State collateral text runs from “all assets” to three pages of serial numbers. We parse it into a type, make, model and year where the text supports it, and leave it alone where it does not.

What a row contains

  • Filing number, filing date, state
  • Debtor, both canonical and exactly as filed
  • Full debtor address
  • Secured party, canonical and as filed
  • Collateral summary and parsed type / make / model
  • Lapse date, and our first-seen date

Segment it by state, collateral type, lender or lender class, and include or exclude blanket liens. If a lien is inside its lapse window, the row says so.