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WHITE PAPER: SECURED PARTY REPRESENTATIVE SERVICES (SPRS)

Uniform Commercial Code (UCC) security interests offer significant benefits, like reducing risks for lenders if a debtor defaults.

However, the security interest also has a downside. To perfect its security interest, the lender normally must file a UCC financing statement thereby putting its customer list into the public domain for competitors to see.

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WHITE PAPER: SECURED PARTY REPRESENTATIVE SERVICES (SPRS)

In highly-competitive lending markets like factoring, non-bank lending, and merchant cash advance, competitors will nefariously use this information to target your customer lists.

In this new white paper, Paul Hodnefield, CSC® associate general counsel, discusses:

  • Challenges lenders face when putting their information in the public record

  • What tactics lenders have used to prevent competitive losses

  • Solutions that balance preventing use of the public records for sales solicitations with due diligence search requirements