Promissory Note
  • Information about the loan
    • Who is Borrower?
    • Who is Lender?
    • Loan details
  • Complete the document
    • Format & Signatures

Who is Borrower?

  • A Borrower (i.e. a person who borrows money) is:

  • Indicate a Borrower's full company name:

  • Indicate a Borrower's company address:

  • Indicate the Borrower's full name:

  • Indicate the full residential address of a Borrower:

  • Indicate a Borrower's contact email address:

    !

    This email address will be used for communication between a Borrower and a Lender with regards to the present Agreement.

Who is Lender?

  • A person that borrowers money (the Lender) is:

  • Indicate the company's full name (Lender):

  • Indicate a Lender's business address:

  • Indicate a Lender's full name:

  • Indicate a Lender's residential address:

  • Indicate a Lender's email address:

    !

    This email address will be used for communication between a Lender and a Borrower with regards to the present Agreement.

Loan details

  • Indicate the date on which the Agreement starts:

    !

    This is the date when the Promissory Note becomes effective.

  • Select the state, where a Lender is based or currently reside:

    !

    The laws of a state selected as an answer to this question will apply towards this Agreement.

  • Indicate the total amount of money borrowed (in USD):

    !

    This is the principal amount that a Lender borrows to the Borrower. This sum should exclude any applicable interest, if any.

  • Will the Borrower be paying interest on the loan?

    !

    Interest is an additional amount of money a borrower pays to a lender for borrowing their funds. An interest is calculated as a percentage of the loan given. Once the loan period expires, a borrower should repay back both the loan in full as well as any accrued interest.

  • Indicate the interest rate (in %):

    !

    Neither federal nor state laws define the maximum or minimum interest rate that should apply to promissory notes.

    However, the average interest rate is in between 3-5% of the principal loan amount.

  • Select a date by which the loan and accrued interest should be repaid back in full:

  • Select a date by which the principal amount should be repaid back:

  • If a Borrower fails to repay back on time the loan and/or interest, should an additional interest rate apply to the unpaid amount?

  • If a Borrower fails to repay back on time the loan, should an additional interest rate apply to the unpaid amount?

  • Indicate the new interest rate that should apply to unpaid loan and/or interest amount after the due date:

  • Do you want to add a signature?

  • Add Borrower's signature:

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