Promissory Note
A written promise to repay a loan, with the amount, interest, and payment dates.
Good for: Anyone lending money to a friend, family member, or business, or borrowing it, who wants the terms in writing.
Before you sign
- Both people should sign, and each should keep a copy.
- Every state limits how much interest a lender may charge. If you charge interest, keep it reasonable.
- If the loan is large, think about asking for something of value as security, such as a car title, which needs a separate agreement.
- Write down every payment as it is made, with the date and the amount.
What this is not
These are standard forms for you to fill in, plus plain-language information. This is not legal advice and this site is not a law firm. We do not file anything for you or check your answers. Rules differ from state to state, so read the finished form before you sign it.