Below you find a link to customize a promissory note form template.
This document enables a small business to define the details of an unsecured debt transaction and the stipulations on how that debt will be repaid to the lender.
The promissory note form defines loan rights and includes items such as: lender and borrower names; interest rate; payment options / details; mount of loan; beginning and ending dates; and transfer rights.
With a simple promissory note form, it is important to have a legal document that is valid and legal in your state.
Customize a Promissory Note for Your State
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About Simple Promissory Note Form
These legal documents can be either secured or unsecured. A secured promissory note includes collateral.
Listing an outline of information on the note avoids potential legal issues if there is a conflict about the terms of the debt.
There are also demand promissory notes where there is no maturity date but is due on demand of the lender with limited notice.
The note helps to protect each party by providing better documentation if the dispute is taken to court and is helpful for tax and record keeping purposes.