Is the filing of the UCC-1 form for Aunt Millies Bakeries dependent on any other actions or conditions?
Aunt_Millies_Bakeries Franchise · 2025 FDDAnswer from 2025 FDD Document
6809, phone: 260/424-8245 | | John Joseph West III, 1600 Russell Street, Covington, KY 41011, phone 513/335-1195 | | Michael Orkis, 1020 Claycraft Rd, Gahanna, OH 43230, phone 614/580-2682 | | Timothy G. Lester, 1020 Claycraft Road, Columbus, Ohio 43230, phone: 614/256-3907 | | Brian D. Fanelli, 2900 Westchester Avenue, Purchase, New York 10577, phone 914/ 696-7500 | | | | I have received a Franchise Disclosure Document with an issuance date of January 29, 2024, and as registered in the states noted on | | Exhibit N effective on the dates shown. This Franchise Disclosure Document includes the following Exhibits: | | |
| Exhibit A - State Regulators; Agents for Service | Exhibit H – | |
|---|---|---|
| of Process | (1) Aunt Millie's Bakeries Security Agreement; and | |
| Exhibit B-Financing Documents from First Capital | (2) UCC-1 (Representative Sample) | |
| Acceptance Corp. | Exhibit I - Financial Statements | |
| (1) |
Source: Item 23 — RECEIPT (FDD pages 44–196)
What This Means (2025 FDD)
According to Aunt Millies Bakeries' 2025 Franchise Disclosure Document, the UCC-1 form is related to financing documents. Specifically, Exhibit B lists financing documents from First Capital Acceptance Corp. These documents include a Promissory Note, Disbursement Authorization, Financing Security Agreement, UCC-1 (Representative Sample), and Purchase of Receivables. This suggests that the UCC-1 form is part of the financing arrangements that Aunt Millie's Bakeries has with First Capital Acceptance Corp.
The UCC-1 form is also mentioned in Exhibit H and Exhibit J, again in connection with a security agreement. Exhibit H lists "(1) Aunt Millie's Bakeries Security Agreement; and (2) UCC-1 (Representative Sample)". Similarly, Exhibit J lists financing documents from DSA, including a Promissory Note, Financing Security Agreement, and UCC-1 (Representative Sample). This indicates that the filing of a UCC-1 form is likely tied to securing financing, either through Aunt Millie's Bakeries' primary lender or through other financing arrangements.
For a prospective franchisee, this means that the UCC-1 form is likely a standard part of the documentation if they choose to finance their franchise purchase or operations through one of Aunt Millie's Bakeries' affiliated lenders. The franchisee should review these financing documents carefully to understand the terms and conditions, including interest rates, repayment schedules, and any collateral requirements. It is important to note that payment terms are subject to change at the determination of FCAC.