This Promissory Note template can be used as a legal type of IOU when someone wants to borrow money from your company. The note becomes a legal record of the loan and the terms of repayment in addition to spelling out the interest rate and any penalties if the loan is paid late or not at all. This particular note is fairly comprehensive and great to use in most situations when money is loaned, or credit is extended, by a lender not regularly engaged in the financing business.
IMPORTANT: Please consult a local attorney and remove any commentary or highlights before executing!
Last Update May 2021
May 1, 2021