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It is designed for an unsecured loan, and it requires that you calculate the amortization & repayment schedule (interest and payment schedule). The principal amount, including interest, is payable in payments as follows: two hundred and seventy five dollars and no cents. Scroll to the bottom for a blank repayment schedule that you can fill in.
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CLICK HERE FOR A FREE PROMISSORY NOTE DOWNLOAD; The Free Promissory Note above is provided by LoanBack.
A promissory note is a simple legal document in which a person undertakes to pay a particular debt.
Therefore, the lender and borrower don't necessarily need legal knowledge to be able to fill one in. This sample promissory note (also available in Microsoft Word, PDF and plain text downloadable files) spells out how and when you are to be paid, and what happens if the borrower doesn't repay the loan. These include names and signatures, date, state, amount of cash involved, and a witness signature.
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