Missouri Unsecured Promissory Note Template

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The Missouri unsecured promissory note is completed by both a lender and a borrower to ensure both parties are on the same page in regards to payment types, late fees, interest rates, and other important aspects. This note template is unsecured, meaning there is no section for security. As a result, the lender will be at a far greater risk for losing the loaned balance. To help combat this risk, the lender should only work with family, friends, and/or those with sufficiently high credit.

How to Write

Before heading to the first section, enter the current date, both parties addresses and full names, the full balance of the note, and the legal interest rate.

Step 1 – At the first (1) section, choose from the following payment options:

  • No Installments – Borrower makes a single payment of the full balance and interest on the final due date
  • Installments – Borrower makes routine weekly or monthly payments to the lender
  • Interest Only Payments – Borrower makes weekly or monthly payments of interest towards the balance

If the second or third option was chosen, select either weekly or monthly payments at the bottom of the first section.

Step 2 – At the second (2) section, enter the final due date for the entire balance in addition to accrued interest and any issued late fees.

Step 3 – For the third (3) section, enter the interest rate percentage that automatically goes into effect if the borrower defaults on the balance or misses a payment by fifteen days or more.

Step 4 – In section six (6), enter all required information regarding late fees.

Step 5 – Head to the seventh (7) section. Here, enter the number of days that need to pass after default occurs before acceleration can go into effect. In an acceleration, all outstanding payments are due immediately.

Step 6 – On the last page of the template, enter the following information:

  • Current Date (Day, Month, Year)
  • Lender’s Printed and Signed Name
  • Borrower’s Printed and Signed Name
  • Witness’ Printed and Signed Name(s)