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Kentucky Unsecured Promissory Note Template

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The Kentucky unsecured promissory note adds a level of legal protection for two parties involved in the process of loaning money. The note serves as a ‘promise’ for one party (the borrower) to reimburse another party (the lender) a previously loaned amount plus interest. This version does not include security, thus the lender should only work with friends and family and/or those with sufficiently high credit.

How to Write

Step 1 – Begin by entering the current date, details regarding the borrower and lender, and the full balance of the note plus the interest rate.

Step 2 – Head to section one (1). Here, select the payment type that will be utilized for the duration of the note. The options consist of:

  • No Installments – Requires the borrower to make one lump sum payment (including interest) at a predetermined date.
  • Installments – The borrower makes either weekly or monthly payments towards the balance plus interest.
  • Interest Only Payments – Requires the borrower to make payments that consist of interest only at a legal interest rate.

If an option that uses installments is selected, check the box next to either weekly or monthly payments.

Step 3 – For sections two (2) and three (3), enter the final due date of the entire balance (includes any late fees and accumulated interest). Then, enter a legal interest rate that automatically goes into effect in the case of a default on the note.

Step 4 – Head to section six (6). Enter the amount of time required to pass after a payment due date before a late fee is issued.

Step 5 – For section seven (7), enter the time span required before an acceleration can be issued.

Step 6 – Finally, head to the last page of the note and enter the current date. Then, have the lender, the borrower, and the witness print and sign their name into the designated boxes. The note will go into effect once this last step has been completed.


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