Updated April 08, 2022
An Iowa unsecured promissory note is a written promise on behalf of a borrower to reimburse a lender a loaned amount of money. The lender benefits by requiring interest to be paid on top of the given amount to the borrower. The lender should be cautious when selecting an individual to lend money to, as this note template does not include security, meaning the lender can risk losing the balance of the note in the case of a default.