Can a corporation discharge or release a PPSA registration once a loan is repaid?

Yes. Once a corporation has fully repaid the loan a PPSA registration was securing, it's generally entitled to have that registration discharged, meaning the secured party either registers a discharge itself or provides the corporation with what's needed to have the registration removed or marked as no longer active. The corporation shouldn't have to live indefinitely with a registration on the public record for a debt that no longer exists.

Leaving an old registration in place after repayment isn't just an administrative loose end — it can genuinely interfere with the corporation's ability to obtain new financing, since a new lender searching the registry may see what looks like an existing, unresolved security interest over the corporation's assets and treat it as a complication, even though the underlying debt is gone. If a lender is slow to discharge a registration after full repayment, the corporation should follow up promptly and, if necessary, get legal help to have it removed, since a stale registration can create real friction the next time the corporation tries to borrow, sell assets, or bring in new investment.