Create a Promissory Note at NowLegal.com

Create your Promissory Note now to:

Define the length of time that a loan will be paid back
Establish a monthly payment at a certain interest rate
Create alternative terms for defaulted or late loan payments
Ensure that both parties understand all the terms of the loan
Select a specific state’s laws to control the note
Ensure judicial enforcement of the loan in a specified jurisdiction

Here’s what you get:

Promissory Note instrument drafted just for you
Delivery to your inbox and storage in your account
Now Legal’s Breathe Easy Guarantee

What is a promissory note?

A promissory note is sometime referred to as just a note. A promissory note is where one party executes an unconditional promise in writing to pay a sum of money to another party either at a fixed or determinable future time or on demand of the lender. An IOU is not a promissory note for numerous legal reasons.

Does the promissory have to include all the terms of the loan?

Yes, a promissory has to include all the terms of the loan including principal amount, monthly payment, interest rate, and time period for payments so that both parties understand the arrangement and in order to allow for judicial enforcement of a defaulted note.

What if the borrower wants to pay back the loan in full earlier then defined by the promissory note?

The promissory note allows the parties to insert a section into the actual note that allows the borrower the right to prepay on the loan without penalty.

$19

Promissory Note, defining the terms of a loan
Optional content allowing borrower’s right to prepay without penalty
Priority Service of your Promissory Note order
Delivery to your inbox and storage in your account
NowLegal’s Breathe Easy Guarantee

Answer a short questionnaire about your Promissory Note

Complete our simple interview-style Promissory Note questionnaire. NowLegal lets you establish all the terms of a loan in a concise and understandable format. We form your promissory note precisely the way you want us to do it.

We prepare your Promissory Note

NowLegal professionals review the answers you provide in our Promissory Note questionnaire to ensure they are complete, consistent, and free from common mistakes. With your answer, we then create your promissory note and provide you with guidelines and instructions for the proper execution of you promissory note.

You’re done…and can breathe easy with your new Promissory Note

Once you’ve finished the Promissory Note questionnaire, it’s time to breathe easy and focus on what’s important to you. When you receive your Promissory note, simply follow the guidelines and instructions provided to you by NowLegal, which includes making several copies, distributing those copies to the appropriate people, and then placing a copy in a secure location. Now you can ensure that you and the borrower understand all the terms of the loan and that you will have a means of collecting your money if the borrower fails to pay according to the terms.

NowLegal’s Promissory Note allowed me to have a tangible document that showed all the terms of the money that I lent. I now feel protected and there is no confusion about the agreement. This easy process simply makes sense. I would not allow someone to lease my house without signing a contract so why would I Ioan money without having the borrower sign a promissory note.

- Todd - Tuscon, AZ

I decided to loan money to friend that just lost her job due to the recent financial crisis. I wanted to make sure that my friend and I had a clear understanding that the loan was meant to be repaid. I have no intent of my friend and me ever ending up in court, but it is relaxing to know that I have a document that proves I loaned her money.

- Dotty - Birmingham, AL

Two words describe NowLegal….Easy and quick. I wanted to loan money to a local business venture, but quickly needed to get my hands on a promissory note. I followed NowLegal’s easy steps and I quickly received a valid promissory note. The owner of the borrowing business signed the note and I now feel more secure. Thanks NowLegal.

- Jamal - Bronx, NY

NowLegal makes filling out Promissory Notes simple for my personal investments. Now if someone needs a loan, I know where to go for extra security.

- Caroline - New Haven, CT

1	Take our short online Promissory Note questionnaire
2	We review your answers and prepare your Promissory Note
3	We deliver your promissory note within 24-48 business hours

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