Promissory Note
  • General Information
    • Who is Borrower?
    • Who is Lender?
  • Loan Details
    • Loan Amount
  • Payment Plan
    • Payment Plan Type
  • Miscellaneous
    • Security and Collateral
  • Complete the Document
    • Format & Signatures

Who is Borrower?

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

  • Indicate full name of the company (Borrower):

  • Indicate full company's business address (Borrower):

    !

    The company’s address is a principal address of where the business’s management sits or from where main business operations are made.

  • Indicate full name of the borrower:

  • Indicate full residential address of the borrower:

Who is Lender?

  • A Lender (i.e. a person who lends money) is:

  • Indicate the full name of the company (Lender):

  • Indicate the full name of the lender:

  • Indicate the lender's full company's address:

  • Indicate the lender's full residential address:

Loan Amount

  • Indicate the date on which the promissory note is signed by both parties:

  • Indicate the amount of Loan in pounds (£):

    !

    The sum of money should exclude any applicable interest (if any).

  • Will the interest rate apply towards the Loan?

    !

    Loan interest is the cost a borrower pays for borrowing money from a lender.

    When a borrower takes out a loan, they agree to repay the original amount (called the principal) plus an additional amount called interest.

  • Indicate the annual interest rate (in %), which applies towards the Loan:

    !

    The average interest rate varies between 2 and 5 % per annum.

Payment Plan Type

  • How should the loan be paid back by the borrower?

  • Indicate the frequency of regular payments with which the Loan should be repaid:

  • Indicate the amount of regular payments in pounds (£):

  • Choose the date of a month on which an annual regular payment of the Loan will take place:

    !

    The month of the annual regular payment of the Loan should be indicated in the answer to the next question.

  • Choose the month on which an annual regular payment of the Loan will take place:

  • Choose the day of the week on which regular weekly repayments of the Loan should be made:

  • Choose the date of the month on which regular monthly repayments of the Loan should be made:

  • Indicate the other frequency of regular instalments, with which the Loan should be paid back:

  • Indicate the date, on which the whole amount of Loan should be paid back:

  • Which payment method will be used by the Borrower?

Security and Collateral

  • Should the borrower's obligation to return the Loan be secured with a security (for example, the borrower's assets)?

    !

    A secured loan is a type of loan that’s backed by a security or assets a borrower owns.

    If a borrower can’t repay the loan, the lender can take the borrower’s property to recover their loss.

  • Describe in detail the security (e.g. its size, value, type etc):

  • Do you want to add signature?

  • Add Borrower's signature:

Select a template's format:

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