Updated April 08, 2022
A Wyoming unsecured promissory note is a signed promise that binds a lender and a borrower of a monetary balance into a contract requiring the borrower to reimburse the lender the balance plus interest in a timely and structured manner. This template does not include security, leaving the lender at an increased risk of losing the loaned balance if the borrower enters into default. Lenders should screen potential borrowers to ensure they have strong credit scores to help lessen the chance of a default occurring.