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Connecticut Promissory Note Templates (2)

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Connecticut Promissory Note Templates (2)

Updated July 27, 2023

A Connecticut promissory note template is completed by two parties who are looking to engage in a leasing activity. The notes cover many aspects of the agreement and ensure the borrower and lender are clear on the terms and conditions of the loan.

Usury Rate – Interest rate may not exceed 12%.

Table of Contents

By Type (2)

Secured Promissory Note – Gives the lender security in the transaction by guaranteeing a home, vehicle, or another type of worthy possession in the event of a default.

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Unsecured Promissory Note – It is recommended that this note is used for lenders who have complete trust in the individual they are lending to. This is because the lender has no security in the deal, and risks losing money if the borrower defaults on the balance.

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Usury Statute

No person and no firm or corporation or agent thereof, other than a pawnbroker as provided in section 21-44, shall, as guarantor or otherwise, directly or indirectly, loan money to any person and, directly or indirectly, charge, demand, accept or make any agreement to receive therefor interest at a rate greater than twelve per cent per annum.