Other Advances

[TAR]

Is there any way to confirm a business doesn't currently have any other advances?

[sean bash]

Is there any way to confirm a business doesn't currently have any other advances?

Perfectly? No. If you're a member of the SBFA (formerly NAMAA), you can check to see if any other SBFA member has funded that merchant but not the rest of the funders and lenders in the industry. You can also check UCC filings, examine bank statements, and merchant processing statements. Ultimately if the merchant is trying to hide it from you, they can. There's no way to perfectly confirm.

[TAR]

Thanks Sean!

[Zach]

You can also pull a Lexis Nexis and see if there are any UCC filings. Not perfect, but it helps.

[Triton Financing]

Is there a database that runs all UCC's filed in every state or do you have to check them individually?