Business Loan Documentation 3: Intermediate Collateral Issues

Past Event

The course uses intensive and numerous small group activities and over 50 short case studies in order to cover intermediate-level, collateral-related UCC issues. Participants will achieve a greater understanding of their loan documentation responsibilities and a greater sense of self-confidence regarding their ability to adequately perform loan documentation activities. The emphasis of the course is on understanding the application of general documentation requirements, rather than on actual forms or highly-technical legal reasoning.

In this seminar, we will cover:

• Common–and uncommon–UCC filings
• Four most common reasons for Secretary of State rejection when filing a UCC-1 initial financing statement
• Four most common reasons for Secretary of State rejection when filing a UCC-3 amendment financing statement 
• Six most common mistakes that are made by filers when the Secretary of State accepts a financing statement
• The standards that are used by the Secretary of State’s Office for name search purposes
• More-complex attachment issues
• More-complex perfection issues
• The effects of errors and changes in financing statements
• Selected major issues regarding floating security interests
• Selected major issues regarding proceeds

Note: This course does not cover either real estate or agricultural loan documentation issues. These are specialized topics that require specialized training sessions.

PARTICIPANTS: All business lenders, credit analysts, loan reviewers, lending managers and bank presidents with a basic understanding of UCC issues and requirements who wish to deepen and broaden their understanding in a case-based setting.

INSTRUCTOR: John Reik of John Reik & Associates, a Minnesota based business training and consulting firm. John has presented numerous RMA seminars and has been a lecturer and Assistant Professor of Finance at the University of Minnesota for over 39 years. He also was senior trainer and manager of Credit and Finance Education for U.S. Bank for 8 years.

ITEMS TO BRING: Pencils.
Note: We are unable to guarantee enough outlets for everyone to charge phones.