Georgia Promissory Note Templates

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Updated June 13, 2022

A Georgia promissory note templates are a pair of documents structured to add legality and cohesiveness to a loan transaction between two parties. The documents are completely jointly by both the lender and borrower in the transaction. In the document, the parties will be required to agree on sections regarding payment types, due dates, late fees, and other areas of the agreement.

Signing – Required only by the borrower. Signing in the presence of witnesses or a notary public is always recommended.

Usury Rate – The default is 7% if no written contract is established. For written contracts, the maximum 16% on loans below $3,000, 5% per month on loans between $3,000 and $250,000, and no limit on loans above $250,000.

LawsGa. Code Ann. §§ 7-4-2, 7-4-18

Types (2)

Secured Promissory Note – Gives the lender security in the case of a default on the balance. The borrower is required to set aside a possession such as a home, vehicle, or another worthy physical item. If the borrower ends up defaulting, the items in security will be given to the lender.

Download: Adobe PDFMS Word (.docx)OpenDocument



Unsecured Promissory Note – This document is very similar to the secured version, but differs in the amount of financial protection the lender has in the agreement. If the borrower defaults, the lender will have no immediate way to receive his or her money.

Download: Adobe PDFMS Word (.docx)OpenDocument




Usury Rate

Georgia law states that the legal rate of interest when not specified is 7% per annum simple interest. For amounts between $3,000 and $250,000, the parties may agree to a rate provided that it is not greater than 5% per month. For amounts less than $3,000, the interest rate may not exceed 16% per annum simple interest. GA ST T. 7, Ch. 4, Sec. 7-4-2 and 7-4-18.

(Video) What is a Georgia Promissory Note?

How to Write

Step 1 – Download the Georgia Promissory Note Form –

  • Enter a start date in dd/m/yy format
  • Borrower’s name
  • Enter the borrower’s mailing address
  • AND
  • The Lender’s name
  • Lender’s mailing address
  • AND
  • Submit the principal sum of the loan
  • Submit the amount of the unpaid the percentage rate per annum

Step 2 – Payments –

  • In the line provided, enter the due date of the full balance of the loan to include any late fees in dd/m/yy format

Installments –

  • Check the box would indicate the agreed method of payment – Enter the total amount of the note that must be paid by the due date
  • If the borrower is paying in installments, check the “installments” box and submit the principal amount that shall be paid by the due date
  • Check the box stating payment frequency
  • Submit the amount of the required fee for late payments

Step 3 –  Security –

  • If the note will be unsecured, check the appropriate  box
  • If the loan shall be “secured,” enter the information regarding the agreed property shall secure the loan

Step 4 – Titled Sections –

  • Interest due in the Event of Default
  • Allocation of Payments
  • Prepayment
  • Acceleration (and 6A. – Security)
  • Attorney’s Fees and Costs
  • Waiver of Presentments
  • Non-Waiver
  • Severability
  • Integration
  • Conflicting Terms
  • Notice
  • Co-Signer – Check the box that applies  – if there will be a co-signer submit their name
  • Execution
  • Governing Law – (Georgia)

Step 5 – Signatures – Submit the following information, before a selected witness:

  • Enter the Lender’s signature
  • Provide the date of the form in mm/dd/yyyy format
  • Print lender’s name
  • AND
  • The Borrower’s signature
  • Date of signature – (mm/dd/yyyy)
  • Print borrower’s name
  • AND
  • If a Co-signer is required, enter their name
  • Date of co-signer’s signature (mm/dd/yyyy )
  • Printed name
  • AND
  • Submit the Witness’ signature
  • Date of the signature in mm/dd/yyyy format
  • Print name