Use SMARTFORMZ to quickly create your customized Promissory Note.
You've heard the phrase "Get it in writing" before, and for good reason. When a person plans on lending money to somebody else, it is best to put the loan terms in writing - this ensures that you avoid confusion and conflict later on.
A Promissory Note is a written promise to pay a sum of money to a specified individual within a specified period of time. Our Promissory Note will set forth the terms and conditions such as the repayment schedule, amount borrowed, interest rate, contractual terms, and provide a variety of additional options for complete customization. More Info.
Our easy-to-use wizard system is designed to help you save money and time. Simply fill out our step-by-step Questionnaire, preview your completed document even before purchasing, and after verifying that you are 100% satisfied with your document, you may wish to purchase a printable copy of your document!
Lender Information
Please use this area to add the information of the person or company who land the money. Remember to put the exact address. If you will have to use legal aims to collect the loan, the exact address will become critical. If there is more than one person or company who loan the money, you can choose "Add additional Lender" at the bottom of this area.
Full Name:
Address:
Add Additional Lender?
No
Yes
Second Lender
Full Name:
Same address as first?
Yes
No
Address:
Borrower Information
This person can also be referred to as the "Promisor", the person who is promising to repay the loan or obligation defined in this promissory note. Please fill in the Full Name and Address of the Borrower. If you need to enforce the note, you will need to have detailed information of the borrower(s). You can add a second borrower by using the "Add Additional Borrower" at the bottom of this section.
Full Name:
Address:
Drivers License Number:
Add
Leave out
Social Security Number:
Add
Leave out
Date of Birth:
Add
Leave out
It is recommended that you have many identification details as possible; however, if you would like to exclude these details from the note, please check "leave out" accordingly.
Add Additional Borrower?
No
Yes
Second Borrower
Full Name:
Same address as first?
Yes
No
Address:
Drivers License Number:
Add
Leave out
Social Security Number:
Add
Leave out
Date of Birth:
Add
Leave out
Money Information
The Amount Promised is the total amount the borrower will pay (including interest if applicable). The payment options can be one lump sum, equal installments of which you will need to enter the installment amount and the payment day or special arrangements of which you can detail in the "Other" section. You may choose to include the first payment date if known, or if the loan will be standing until you ask the borrower to return it, you may elect "Upon demand".
Example: Monthly installments of $100 to be payable on the first of the month.
Example: Weekly installments of $50 to be payable on Tuesdays.
Amount Promised: $
Repayment to be made:
In one payment for the entire amount
installments of payble on
Daily installments of
Other
Example: Monthly installments of $100 to be payable on the first of the month.
Example: Weekly installments of $50 to be payable on Tuesday.
Will interest be charged?
No
Yes
Interest Rate:
%
Compounded:
Monthly
Every 6 Months
Yearly
Daily
First payment is due:
Upon demand
Would you like to charge interest on late payments?
No
Yes
Payments considered late after days.
Interest Amount:
Is collateral to be used?
No
Yes
Provide information about the collateral:
Can the Lender transfer the Promissory Note?
No
Yes
Payments to be made to:
Same as Lender's address
Other address
Address:
Additional Details
Please select the date of the agreement. You may also choose to include additional clauses to your Agreement.
The date you enter will be printed on the note as the signing date. If you are not sure as to when it will be signed, you can use "Leave Date Blank" of which in this case we will leave it blank for you to fill later in writing. If there is additional information you would like to add that does not appear on a standard note, you can elect to do so hear by adding the title and the text for the information.
Agreement Signing Date:
Leave Date Blank
Would you like to add an additional paragraph?
No
Yes
