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Wyoming Unsecured Promissory Note Template

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The 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 for losing the loaned balance if the borrower enters into default. Lenders should screen potential borrowers to ensure they have strong credit score to help lessen the chance of a default occurring.

How to Write

Step 1 – Enter the following into the empty text boxes at the top of the template:

  • Current Date (Day, Month, and Year)
  • Borrower’s Name
  • Borrower’s Address
  • Lender’s Name
  • Lender’s Address
  • Note Balance
  • Note Interest Rate

Step 2 – Head to the first (1) section of the agreement and select the payment method that the borrower will be required to follow for the duration of the agreement. The options consist of No Installments (borrower makes a single payment consisting of the entire balance plus interest to the lender), Installments (borrower makes routine weekly or monthly payments to the lender), and Interest Only Payments (borrower makes payments that consist of only interest until the balance is paid for).

Step 3 – For the second (2) and third (3) sections, start by entering the final date that the balance, any accrued interest, and any issued late fees must be paid by. Then, enter the interest rate that will go into effect if the borrower defaults on the balance. This interest rate must be legal in the state of Wyoming. To ensure you have selected a legal rate, check out WY ST § 40-14-310.

Step 4 – Go to the sixth (6) section and enter all required information regarding late fees into the two empty text boxes.

Step 5 – In the seventh (7) section input the number of days that need to pass after a default has occurred before the lender can issue acceleration. Acceleration requires the borrower to pay all outstanding debt to the lender immediately after it has been issued.

Step 6 – Finally, go to the last page of the template and enter the current date, the lender’s printed name and signature, the borrower’s printed name and signature, and the printed and signed names of the witness. Once all signatures have been recorded, the template will be complete.


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