Updated January 16, 2023
A Connecticut secured promissory note is designed to be completed by two individuals, a lender and a borrower, and adds security as well as mutual understanding in regards to the loaning of money. Included in the document is a section where the parties can agree on the way payments will be made. Additionally, the parties will need to agree on an interest rate for the balance. Ensure the interest rate that is chosen is legal in the state of Connecticut by checking 37 CT Ch. 673 Sec. 37-4.