- Home /
- Legal Forms /
- Secured promissory note (fully amortized)
Make a secured promissory note (fully amortized) in minutes
Give your lender confidence by outlining the terms of your loan and repayment plan.Create now
Why use our help with legal forms? A million reasons
A successful track record
Almost two million businesses have trusted us to help get them started, and millions have let us help them grow, no matter what shape or size.
Our carefully prepared questionnaires take out the guess work. Your answers fill in the forms easily and correctly, the first time.
Real, live support
We have customer support specialists just a phone call away to help steer you in the right direction.
Here's the info you'll need to have handy to complete your doc:
Who it's coming from
Determine if a business or individual is sending the doc and have the name and contact info ready.
Who it's going to
Know who this doc is going to and have the individual or business name and contact info ready. If it's a business, make sure you know the business type (LLC, corporation, etc.).
Which state will govern it
Specify a state so it's clear what laws apply to the document.
Be ready to define terms of the loan (e.g., the loan amount, the number of installment payments, the type of security or collateral).
Understand the start and end dates, and the total number of payments.
What's a Secured Promissory Note (Fully Amortized)?
A promissory note is an agreement to pay back a loan. Secured means that the loan is guaranteed by security or collateral. "Amortized payments" means the borrower will pay down the interest and principal of the loan in equal installment payments, but different proportions, until the total amount is paid. Initially, the borrower will be repaying a higher percentage of interest, and later a higher percentage of principal, although the payment amount remains the same.