Secured Promissory Note Template | PDF | RTF | Word

A secured promissory note is a loan that is guaranteed by an asset or property in case the money borrowed is not repaid in the set time-frame. This type of loan is common among people with low or bad credit and wish to borrow a significant amount of money. This gives the lender trust that he or she will be paid back no matter if it is paid on time or not.

• If you are the lender, always make sure that the personal property being secured is clear of any liens or encumbrances.

How to Write

Fill-in the following:

• Purchase Price
• Date of Loan
• Value Received
• Maker’s Name and Address
• Holder’s Name and Address
• Sum of Dollars ($)
• Payments
  • Installments
  • Principal plus Interest
  • Interest Only
• Installment Dates
• Due Dates
• Default Interest Amount/Percentage (%)
• Allocation of Payments
• Prepayment
• Currency
• Late Charge
• Due on Charge
• Due on Sale
• Acceleration
• Property (if applicable)
• Additional Terms and Conditions (if applicable)

When the note has been fully agreed to both parties should sign to mark it’s origination.