Get the free Unsecured Promissory Note - 1Stop Legal Forms

This is a sample. Your actual document will vary depending on the answers you provide to the form questions. Unsecured Promissory Note Principal Amount: $10,000.00 (US Dollars) Date: 10/1/2004 Single

How to fill out unsecured promissory note

How to fill out an unsecured promissory note:

1. Start by writing the full and correct date at the top of the note. This includes the day, month, and year.
2. Write the names and addresses of both the borrower and lender. Be sure to include their full legal names and complete mailing addresses.
3. Clearly state the amount of money being borrowed in both numerical and written form. For example, if the borrower is receiving $5,000, write "Five Thousand Dollars ($5,000)".
4. Specify the interest rate, if any, that will be applied to the borrowed amount. Clearly state whether it is a fixed or variable interest rate.
5. Establish the repayment terms. Include the date the loan must be repaid in full and whether it will be paid in installments or in a lump sum.
6. Outline any late fees or penalties that may be incurred if the borrower fails to make timely payments.
7. Include any additional terms or conditions that both parties agree upon. This could include matters such as collateral, default provisions, or any other special agreements.
8. Both the borrower and lender should sign and date the promissory note to indicate their agreement to its terms.
9. It is recommended to have the promissory note notarized, but this is not always required.

Who needs an unsecured promissory note:

1. Individuals who are lending money to friends or family members without any collateral or security.
2. Small business owners who are borrowing money from individuals or investors.
3. Individuals who need to document a personal loan, such as helping a loved one with education expenses or purchasing a vehicle.
4. Any situation where there is a need to formalize and legally document a loan agreement without collateral or security.

For pdfFiller’s FAQs

How can I manage my unsecured promissory note directly from Gmail?

It's easy to use pdfFiller's Gmail add-on to make and edit your unsecured promissory note and any other documents you get right in your email. You can also eSign them. Take a look at the Google Workspace Marketplace and get pdfFiller for Gmail. Get rid of the time-consuming steps and easily manage your documents and eSignatures with the help of an app.

How can I edit unsecured promissory note from Google Drive?

People who need to keep track of documents and fill out forms quickly can connect PDF Filler to their Google Docs account. This means that they can make, edit, and sign documents right from their Google Drive. Make your unsecured promissory note into a fillable form that you can manage and sign from any internet-connected device with this add-on.

Can I create an electronic signature for the unsecured promissory note in Chrome?

Yes. By adding the solution to your Chrome browser, you may use pdfFiller to eSign documents while also enjoying all of the PDF editor's capabilities in one spot. Create a legally enforceable eSignature by sketching, typing, or uploading a photo of your handwritten signature using the extension. Whatever option you select, you'll be able to eSign your unsecured promissory note in seconds.

What is unsecured promissory note?

An unsecured promissory note is a legal document that details a borrower's promise to repay a loan without the need for collateral.

Who is required to file unsecured promissory note?

Any individual or business involved in a loan agreement where no collateral is provided may be required to file an unsecured promissory note.

How to fill out unsecured promissory note?

To fill out an unsecured promissory note, include the names of the borrower and lender, the loan amount, interest rate, repayment schedule, and any other relevant terms and conditions.

What is the purpose of unsecured promissory note?

The purpose of an unsecured promissory note is to legally bind the borrower to repay the loan according to the agreed-upon terms without the need for collateral.

What information must be reported on unsecured promissory note?

The unsecured promissory note must include details such as the loan amount, interest rate, repayment schedule, names of the borrower and lender, and any applicable terms and conditions.