If a client is worried about UCCs he's A.) Thinking of defaulting B.) Has a bunch of UCCs file already from other lenders who have him flagged as a default C.) Just a really genuine nice guy who doesn't want a UCC filed on him. But...if he's worried about a UCC doesn't that make you think?
Your putting him in a bad situation. If he’s getting SBA financing, why does he need a lifeline today? He probably doesn’t want the ucc filed because if they file one, and he doesn’t want to pay off the advance with the SBA Loan , he probably won’t pass the DSCR requirements and thus get denied his SBA Loan request.
Comment