By Type (2)

Secured Promissory Note – For lenders that want to ensure they are as protected as possible in the event of a default from the borrower. Before the signing of the document, the lender and borrower agree on physical item(s) that are automatically given to the lender if the loaned amount cannot be paid off.

Download: PDF, MS Word, OpenDocument

Unsecured Promissory Note – Contains more risk than the secured note solely because of the absence of any security for the lender. In the case of a default, the lender has to resort to a small claims court or report the default to a credit agency.

Download: PDF, MS Word, OpenDocument