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Financial Institutions


Client Industries Include:

  • Commercical Banks
  • Factors
  • Asset-Based Lenders
  • Equipment Leasing Companies

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Why Choose FCS?

First Corporate Solutions (FCS) is well known and widely respected for our unique understanding of the needs of Financial Institutions. We work hard to design products and services that specifically address their business requirements. The FCS canon of services empowers customers to evaluate applicants quickly, monitor existing customers and close transactions with confidence and ease.

First Corporate Solutions offers:

  • Comprehensive pre and post-funding Due Diligence search packages
  • Dedicated Account Management
  • Online Search, Filing and Portfolio Management system
  • Nationwide State and County Lien Monitoring services
  • Innovative Delaware Search Solution


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Products


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Case Study

Factors | Download PDF


Background

As the Operations Manager for a national Factor company, Shannon understands the need to establish and maintain her firm’s perfected security interests. Her company’s clients range from start up companies to established firms, so when it comes to nationwide UCC and corporate services, she cannot afford to lose valuable time with slow turnarounds. Nor can she afford to miss valuable filing information such as federal tax liens or UCCs in her efforts to perfect her firm’s security interests.

Challenge and Solutions

In order to keep with her firm's high standard of reliability and thoroughness, she needed to find a UCC and corporate service provider that had qualities specific to the factor market. "In our business, we need to know everything pertaining to our client's financial status before we fund, and we must monitor that status after we fund," said Shannon.

Shannon started using First Corporate Solutions in November of 2003 because of their competitively priced fee structure and their comprehensive search/file/monitor services. "Before we started using First Corporate Solutions, we used different service companies to search or file, and another to monitor our debtors. Now we can utilize just one, First Corporate Solutions, to address all three. One-stop shopping is easier to manage for me."

"Before, a couple of federal tax liens attached to our existing debtors at the county had gone unnoticed until it was almost too late," Shannon recalled. "Now, with their Account Monitoring service program in place, we are informed of these liens in time for us to be more proactive. I don’t know of any monitoring service like it; they keep an eye on federal tax liens for us at both the state and county level."

After using First Corporate Solutions' national array of search and filing services for a year, Shannon knew she had found a solution she could rely upon; she knew she was receiving the accurate and timely information she needed to help establish and maintain her firm's perfected security interest. "We have received alert notifications of federal tax liens and UCC filings, which you can imagine, have helped save our firm from heavy potential losses. Our switch to First Corporate Solutions equaled higher revenue, less time wasted, and a lot less headache."

Results

  • Shannon's firm averted revenue losses by receiving alert notifications of federal tax liens levied against their debtors in time for them to respond proactively.
  • Due to faster turn-around times on searches, Shannon’s firm was able to promptly decide whether to offer their clients the financial services they requested.

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Case Study

Commercial Bank | Download PDF


Background

Last year, Lisa received a promotion to Branch Operations Manager at the midsize bank where she works. Bank management was concerned about the cost and turn around time they were encountering to process their pre-funding searches and UCC filings. Lisa was asked to review her branch’s process for coordinating due diligence search efforts and UCC filings and implement a better solution.

Challenge and Solutions

"Our clients need to be funded as soon as possible and we were forced to pay our service provider costly rush fees in order to meet our customers' needs," said Lisa. She began making phone calls in an effort to find a full service provider that could deliver a quality product quickly and at a fair price. She was looking to build a relationship with a company she could count on. "I didn't have a lot of experience with searching and filing and I was pretty intimidated, but First Corporate Solutions took the time to educate me and help me understand the process so I could make an informed decision."

After speaking with several service providers Lisa choose First Corporate Solutions as her team's new public records service provider. "After weighing all of my options, First Corporate Solutions was the obvious choice. Their integrated online search and filing system was a great fit for our organization. It really helped us manage our transactions and cut costs. That paired with their great service made our decision to switch an easy one."

Lisa's staff began using First Corporate Solutions in March of 2007. Bank management is thrilled with the cost savings, speedy turn around and excellent service they receive from First Corporate Solutions. Lisa recently proposed that all bank branches adopt First Corporate Solutions as their preferred vendor. "The change has been so positive for our branch. I'm confident our organization could benefit from a large scale switch."

Results

  • By utilizing First Corporate Solutions’ Efiling technology, the bank has dramatically reduced their cost for UCC filings
  • Due to improved turn around for searches and immediate online solutions, Lisa's bank has reduced their funding cycle by 20%, allowing them to better service their clients and remain competitive in the industry.

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Resources

Interact With Corporate Documents With Confidence When You Understand State Filing Office Terminology

Use This Reference Guide to Familiarize Yourself with Good Standing Certificates

Do You Need Plain or Certified Copies of Corporate Documents? Use This Reference Guide to Help You Decide

Budget Cuts and Advancing Technology Have State Filing Offices Changing the Way They Certify Documents

Budget Cuts Lead to Slow Processing Times for Public Records - Try These Tricks to Secure Documents in Time for Closing

Choosing a Service Provider can be a Daunting Task – This Reference Guide Offers 3 Tips to Help You Evaluate Your Options

The Uniform Commercial Code Guides Commercial Transactions in The United States - Read on to Learn More About The Code and Article 9, Secured Transactions

The UCC1 Financing Statement Form is Filed to Give Constructive Notice of a Secured Party’s Interest in a Debtor’s Property - Read on to Learn About What Information is Required on The Form

The Secured Party, Not Filing Officer is Responsible for Accuracy and Completeness of a UCC Financing Statement

UCC Filing Mistakes Can Jeopardize a Lender’s Ability to Collect on a Bad Debt - Watch Out For These Common Mistakes on Financing Statements

UCC Filing Mistakes Can Jeopardize a Lender’s Ability to Collect on a Bad Debt - Watch Out For These Common Mistakes on Change Statements

A Lapsed Filing Can Cost a Secured Party Their Priority Position to Collect - Follow These Steps to Guarantee Timely Filing of Continuations

A Lapsed Filing Statement Cannot be Revived, But You Do Have Options - Read on to Learn About What You Can do to Minimize Your Risk in the Event of an Accidentally Lapsed UCC

Don’t Panic – You Have Options When Dealing With Fraudulently Filed Terminations

Sole Proprietorships are Considered Individuals, Not Businesses in the Eyes of the Uniform Commercial Code

Rejected UCC Filings are Costly and Inconvenient, but a Filing Accepted with Errors Can Be Even More Dangerous

Keep Your UCC Filing Costs Down by Adopting Some or All of The Best Practices Discussed in This Reference Guide

UCCs Filed with a Trade Name Attached to the Business Name May Fail to Properly Identify the Debtor under Revised Article 9

Rejected Filings Cost Secured Parties Time and Money - Follow These Simple Steps to Avoid Rejection of Your UCC Filings

A UCC is Only Perfected if it Gets the Debtor Name Right - This Guide Provides Information on Determining the Correct Name for UCC Filings on Business Debtors

Collateral Statements are Often Included as Attachment Pages for UCC Financing Statements - This Guide Discusses the Dangers of Missing Attachments

E-Filed UCC Documents May Undergo Minor Formatting Changes - Read on to Learn What Kind of Changes You Can Expect

In the Race to be First to Collect, Some Lenders Pre-file UCC Financing Statements – This Reference Guide Provides Information

There Are a Few Occasions Where a UCC Record with a Corresponding Termination Statement Can Still Be Effective – This Reference Guide Provides Information on These Cases

It is Important to Search All Names Under Which Liens Could be Filed - This Reference Guide Provides Information on Determining What Party Names to Search

Manage and Mitigate Your Risk With a Comprehensive Due Diligence Search Package

Searching the Correct Filing Offices Helps Avoid Surprise Liens

Follow These Simple Searching Tips to Improve the Quality of Your Lien Searching Efforts

UCC Search Reports Vary in Appearance and Contain Different Information Depending on the Data Source - This Reference Guide Provides Tips for Interpreting UCC Search Results

For the Greatest Peace of Mind, Look for UCC Search Solutions That Reveal Similar Names

Before Using Any Online UCC and Lien Search System, be Sure to Evaluate it Carefully to Understand Its Limitations

Tax Lien and Judgment Lien Searches are a Critical Part of a Thorough Due Diligence Investigation

Save Time by Letting Your Searcher Know up Front if You Expect Hits on a Lien Search

The Sooner a Creditor Knows About a Lien, the Sooner They Can Act to Protect Their Interests - Lien Monitoring Programs Provide Early Notification of Potential Credit Risks

A Search to Reflect Confirms Proper Indexing of a UCC Filing and Verifies its Position Relative to Other Creditors

A Search to Reflect is a Critical Final Step in Your UCC Filing Process. This Reference Guide Provides Information on How Long to Wait After Filing a UCC to Order a Reflective Search

Don’t Cut Corners in Your Lien Searches, Incorporate These Cost Saving Strategies to Keep Due Diligence Costs Down

Watch Out for Exact Name Lien Searches - This Guide Discusses Why it is a Good Idea to Include Name Variations in Your Lien Searches

The Uniform Commercial Code Establishes Guidelines for Where UCCs are to be Filed - Save Time and Money by Performing Focused UCC Searches

Broad Based Name Searching Features are Powerful Tools That Help Searchers Uncover Name Variations and Locate Mis-Indexed Filings

High Copy Costs Can Inflate Diligence Invoices - This Guide Discusses Strategies for Keeping Copy Costs Down

The Fees Associated with Due Diligence Searches Can be Confusing - This Guide Offers Information on What Fees You Can Typically Expect

State-Level Only Monitoring Programs Only Tell Part of the Story - This Guide Discusses the Importance of Monitoring for Liens at the County-Level

A UCC Search Might Show UCCs Filed Beyond the Search’s Through Date - This Guide Discusses Why

This Guide Discusses Maximizing Lien Search Results as a Strategy for Uncovering Hidden Lien and Locating Critical Filings Under Name Variations

Simple Set up and Business Friendly Laws Draw Many Businesses to Delaware

State of Delaware Offers Preclearance Review of Corporate Documents to Help Guard Against Rejections

With So Many Businesses Organizing in Delaware, it Has Become a High Volume UCC Search State - Read On to Learn About UCC Searching in Delaware

Delaware State UCC Search Logic Drops Certain Noise Words from Search Strings

Learn to Order a Civil Litigation Search to Achieve the Best Results - This Reference Guide Walks You Through the Five Pieces of Information You Will Need to Give Your Searcher

Most Customers Search the State Court of General Jurisdiction and U.S. District Court as Part of Their Pre Funding Due Diligence

A Civil Judgment is a Good Indicator of a Prospect’s Character, but a Judgment Lien is the Piece That Can Jeopardize a Lender’s Ability to Collect


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Testimonial
As a user since its inception, we have utilized Account Monitoring services to answer our critical need to monitor for federal tax liens in the necessary time frame, as well as inform us of other liens that may affect our portfolio. We have found the service to be timely, consistent and supported by a knowledgeable and service-oriented staff.

Martin O., Loan Department, National Bank, CA
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