TemplateSmall businesses·Small business contracts

Promissory Note

A clear written promise to repay a loan, with terms.

Sections covered

  • The promise
  • Repayment

Template preview

The promise

[Borrower] promises to pay [Lender] the sum of [amount], with interest at [rate] per year.

Repayment

Repaid in [installments / lump sum] starting [date].
Final payment due [date].
What happens on late or missed payments: [terms].

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