Download Secured Promissory Note Template | PDF | RTF | Word

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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.