Vcheck finds a startup’s unidentified UCC filings allowing lender to negotiate more favorable bridge-loan terms.
problem
Vcheck's lending client was looking to provide a bridge loan to a transportation startup. Concerned by the startup's leadership's aggressive optimism, particularly because the company hadn't raised a funding round recently, the lending client requested that Vcheck run background checks on the startup and its executives. Vcheck's analysts worked to screen for risks impacting the startup's ability to repay the loan.
solution
Vcheck's investigators quickly found that the startup was already using the collateral they'd allocated for the loan: The startup was leveraging the same collateral for a previous but unterminated UCC filing. Vcheck's findings allowed the lending client to negotiate more favorable terms relying on different collateral.