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A security agreement is a document that provides a lender a security interest in a specified asset or property that is pledged as collateral. Security agreements often contain covenants that outline provisions for the advancement of funds, a repayment schedule, or insurance requirements.

Secured promissory notes By assuring that the property attached to the note is of sufficient value to cover the amount of the loan, the payee thus has a guarantee of being repaid. The property that secures a note is called collateral, which can be either real estate or personal property.

A secured promissory note describes the collateral?typically property?that secures the debt or amount borrowed. For example, if the borrower owns property, the lender can use the car as collateral until the debt is repaid. If the borrower doesn't repay the loan, the lender can take possession of the property.

A secured promissory note may include a security agreement as part of its terms. If a security agreement lists a business property as collateral, the lender might file a UCC-1 statement to serve as a lien on the property. A security agreement mitigates the default risk faced by the lender.

Wisconsin LLC Articles of Organization Filing Fee ($130) Starting an LLC in Wisconsin costs $130. This is the state filing fee for a document called the Wisconsin Articles of Organization if you file online. The Articles of Organization are filed with the Wisconsin Department of Financial Institutions.

A business can change its Wisconsin registered agent on its annual report or by filing a form with the Wisconsin Department of Financial Institutions: Division of Corporate and Consumer Services (DFI). You can also change your Wisconsin registered agent online at the DFI website.