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Arkansas Secured Promissory Note Template

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Arkansas Secured Promissory Note Template

Updated January 16, 2023

An Arkansas secured promissory note is a binding agreement that establishes the details of a loan between two (2) parties. Areas covered by the agreement include interest rates (which are dictated by the usury rate – Ark. Code Ann. § 4-57-104), penalties following late payments, and pertinent personal information regarding both parties. Additionally, the lender and borrower will establish the security for the agreement, which can be in the form of a home, vehicle(s), or other worthy possessions of the borrower.

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