Answers

Is a PPSA registration the same as a UCC filing? A plain answer.

Q: Is a PPSA registration the same as a UCC filing?

They do the same job in different countries. U.S. funders file UCC financing statements; in Canada, security interests in business assets are registered under each province's personal property security law, and Quebec uses its Register of Personal and Movable Real Rights. Either way, the registration publicly records a funder's claim.

They do the same job in different countries. In the United States, funders file UCC financing statements. In Canada, security interests in business assets are registered under each province's personal property security legislation (Quebec uses its own register of personal and movable real rights). Either way, the registration publicly records a funder's claim.

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Is a PPSA registration the same as a UCC filing?

Key facts

Common-law provinces use PPSA registries
Quebec uses the RPMRR under its Civil Code
Registrations set priority between creditors
Ask for a discharge when an advance is paid off

What a registration does

When a business grants a security interest in its assets, the secured party registers it so that other creditors can see it and so that its priority is protected. In the common-law provinces and territories, this is done under the Personal Property Security Act registry of that province. Quebec uses the Register of Personal and Movable Real Rights under its Civil Code.

Many business financing agreements, including merchant cash advances, include a general security interest that is registered. It does not mean the funder owns your assets; it records a claim that ranks against other creditors if things go wrong.

Why it matters to you

Other lenders will see existing registrations when you apply.
Banks may require older registrations to be discharged before lending.
When an agreement is paid, ask for the registration to be discharged.
Unexpected registrations can signal an error or an unauthorized agreement.

How to check

You can search the provincial registry for your business name for a small fee, or ask your lawyer to do it. Keep a list of every registration and confirm discharges after payoff.

Where Canadian files usually start

Monthly revenueTypically from around $20,000 a month in deposits for Canadian files. The exact line varies by funder and by file.

Time in businessTypically about 12 months. Newer businesses can be reviewed, but the options narrow.

Account healthLimited low-balance or negative days. Funders read the last few months of bank statements for this.

CreditScores from 500 are considered. A score of 600 or higher opens more options and better offers.

DocumentsA signed application and recent business bank statements, typically the last four months.

Existing advancesFiles with an existing advance can be reviewed, including second position.

If your question is about your own file rather than the general rule, the fastest route to a specific answer is a review. Send a signed application and your last four months of business bank statements, mention this question in a note, and the response will address it directly. You can also call (305) 384-8391 and ask before applying; there is no cost to ask.

Questions owners ask next

Sources and review

Office of the Superintendent of Bankruptcy Canada

Reviewed by the Merchant Fund Express team on October 12, 2026. Official pages checked as of that date.

Common questions

Does Canada use UCC filings?

No. UCC is US law. Canada uses provincial personal property security registries.

Will a registration hurt my credit?

It does not affect your credit score directly, but lenders see it.

How do I remove one?

Pay off the agreement and ask the secured party to register a discharge.