Kansas Unsecured Promissory Note Template

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The Kansas unsecured promissory note is a ‘promise’ to reimburse a lender a loaned amount of money plus interest. The interest rate that is chosen for the note must be legal for the state of Kansas. To ensure a legal rate has been chosen, check Kansas Statutes Chapter 16-207. This note is far riskier for the lender than the secured version, as there is no security for the lender in the case of a default. Because of this, it is recommended that the lender works with family, friends, or those with sufficiently high credit.

How to Write

Step 1 – Start the note off by entering the following information at the top of the page:

  • Current Date
  • Full Name of Borrower
  • Address of Borrower
  • Full Name of Lender
  • Address of Lender
  • Full Balance of Note
  • Interest Rate

Step 2 – Select the payment type for the note. The options consist of: No Installments (one lump sum of the full balance and interest), Installments (weekly or monthly payments), and Interest Only Payments (weekly or monthly payments of interest only until the balance is paid off). If the parties decide on a payment option that uses installments, head to the bottom of the section and put a check next to either weekly or monthly payments and enter the day the payment will be due.

Step 3 – For section three (3) and six (6), enter the final due date of the entire balance. Then, enter the time span required before the lender can issue a late fee and the cost of the late fee itself.

Step 4 – In section seven (7), enter the time span for acceleration.

Step 5 – At the bottom of the note, enter the current date followed by the printed and signed names of the lender, the borrower, and the witness.