Promissory Note
A promissory note for U.S. loans between individuals or businesses. Sets the principal, interest (none, simple, or compound / APR), repayment (lump sum, installments, or on demand), late fees, prepayment, acceleration on default, optional security or guarantor, and governing law. Includes usury-aware guidance so the stated rate stays lawful.
Read the how-to guide →Document preview
What you'll be asked
01Parties
Lender (payee) name · Lender address · Borrower (maker) name · Borrower address · Borrower is · Add a co-borrower (second maker)? · Co-borrower (maker) name · Co-borrower address · Co-borrower is
02Loan Terms
Principal amount (USD) · Principal in words · Date funds are advanced · Interest · Annual interest rate (%) · Compounding frequency
03Repayment
Repayment structure · Maturity / final due date · Installment amount (USD) · Installment frequency · First payment date · Prepayment · Prepayment penalty terms
04Default & Security
Charge a late fee? · Late fee type · Late fee (amount or %) · Grace period before late fee (days) · Accelerate full balance on default? · Is the note secured by collateral? · Collateral description · Include a personal guarantor? · Guarantor name and address · Governing state
Frequently asked questions
Is this Promissory Note valid under U.S. law?
Yes. This document is drafted for U.S. law and adapts to your situation from your answers. It is still a template — for anything high-stakes, have it checked by a qualified professional.
Do I need a lawyer or an account?
No. Answer 32 guided questions, pay once, and download instantly. No account, no subscription.
How long does it take?
About 5 minutes. The questionnaire has 32 questions and the document is assembled as you go.
What formats do I get?
PDF and Word (.docx), downloadable immediately after payment.
Can I edit it afterwards?
Yes. The Word file is fully editable, and you can re-run the questionnaire to generate a new version.