Updated April 11, 2022
A Colorado secured promissory note is a three-page agreement designed for two parties planning on engaging in the loaning of money. The agreement outlines key points of information such as late fees, lender and borrower info, and payment types. Additionally, a spot for the interest rate is included. Before completing the agreement, check C.R.S. 5-12-101 and C.R.S. 5-12-103 to ensure a state-legal interest rate is being used.