how do i get a purchase money security interest pmsi 
a pmsi is obtained when a creditor lends money to a borrower and the borrower uses that money to buy goods in return the borrower grants the creditor a security interest in those goods should they default on their loan different types of collateral or goods have different rules but the broadest requirements state the secured party must file a ucc 1 to publicly communicate their intention to gain a secured interest in a good the secured party also may be required to notify other potential secured parties 