“UCC Article 9” protects businesses with over 100k in debt, by actually removing debt in order to prevent closure or bankruptcy.
Predatory lenders don’t want businesses to know it. In fact, most lawyers aren’t familiar with this law, because it has absolutely nothing to do with the bankruptcy code.
The law that removes unsupportable debt from a business is part of the “Uniform Commercial Code” or UCC. The UCC is the set of laws which govern all commercial activity and transactions across every state in America.
It is Article 9 of the UCC that every business owner with unsupportable debt must know, because:
UCC Article 9 can immediately remove the debt to save a business, save the jobs, and clean up the balance sheet so the business can be financed reasonably once again.
UCC Article 9 allows a business along with its senior creditor (bank) to sell the assets of the business into a new purchasing entity. The assets continue to be operated, meaning the business operation never halts in the process. And under UCC Article 9, all merchant cash advances, vendor, and other debt are removed from the business assets when they are transferred to the new business entity.
This ‘reorganization’ benefits your bank, but also protects the business from failure. The owner will of course have personal guaranties on the debts that are removed. These can be settled affordably. But, most importantly, creditors will no longer have access to the cash flow, operating accounts or customers of the business operation.
UCC Article 9 offers a business a true fresh start – without any bankruptcy filings, without lawyers, without new debt.
As seen on NBC News, Bloomberg, and CNN, Second Wind has saved thousands of businesses from failure and has conducted more Article 9 reorganizations than anyone else. When a business has over 100K in total business debt, Article 9 just may be the answer. Find out more.