Filing COVID-19 EIDL Uniform Commercial Code (UCC) Continuation Statements

The purpose of Amendment 2 is to respond to the Questions and Answers received. All other terms and conditions remain unchanged The Small Business Administration (SBA) obtained a security agreement and filed a Uniform Commercial Code (UCC) financing statements on all personal property for all COVID-19 Economic Injury Disaster Loans (COVID EIDLs) that were made in loan amounts greater than $25,000.

The UCC financing statement covers all tangible and intangible personal property, with certain exceptions including registered copyrights, certain non-inventory titled goods, and farm products. The Uniform Commercial Code (as adopted by most states and territories in some form) requires a "continuation statement" to be filed within 6 months before the 5-year anniversary of the original filing date.

A continuation statement is an amendment of a financing statement which: (A) identifies, by its file number, the initial financing statement to which it relates; and (B) indicates that it is a continuation statement for, or that it is filed to continue the effectiveness of, the identified financing statement. Scope The Contractor must provide all resources necessary to accomplish the tasks and deliverables described in this work statement.

The Contractor must file timely and correct UCC continuation statements to extend the effectiveness of the original UCC financing statements that were filed at loan origination.