Wyoming Promissory Note Templates

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Updated April 25, 2022

Wyoming promissory notes are signed promises that organize and add legal validity to transactions where one individual (called the ‘lender’) lends money to another individual (called the ‘borrower’). The documents include a section where a witness’ signature is written; this gives the template weight in a court of law if the document needs to be used for such use.

Usury Rate – The rate of interest is 7% if no agreement is established in a written contract. Otherwise, parties may agree to a higher rate.

LawsWyo. Stat. Ann. § 40-14-106

Types (2)


Secured Promissory Note – Protects the lender from losing the loaned balance by requiring the borrower to set aside an item (such as a home, vehicle, or boat) that is automatically given to the lender in the case of a default. This item is used to cover the amount of balance that has been left unpaid by the borrower and should be of similar value as to the amount of the note.

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Unsecured Promissory Note – Does not include a section where security can be stated. If the borrower enters into default and is unable to recover, the lender does not receive an item to help cover the remaining balance. The lender can only resort to taking the borrower to a small claims court filing to recover the lost balance.

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Usury Rate

In Wyoming, a loan finance charge, calculated according to the actuarial method, shall not exceed the equivalent of thirty-six percent (36%) per year on that part of the unpaid balances of the principal that is equal to or less than one thousand dollars ($1,000.00) and shall not exceed the equivalent of twenty-one percent (21%) per year on that part of the unpaid balances of the principal that is greater than one thousand dollars ($1,000.00). WY ST § 40-14-310

(Video) What is a Wyoming Promissory Note?