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Make a secured promissory note (interest-only with balloon final payment) - edit in minutes
A promise to repay a loan backed by collateral in small installments and a large final payment.
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Here's the info you'll need to have handy to complete your doc:
Who it's coming from
Have their name and contact info ready.Who it's going to
Have their information available, too.Loan details
Know how much it was for, the deadline to pay, and the interest rate.
What's a Secured Promissory Note (Interest-Only with Balloon Final Payment) - EDIT?
A secured promissory note is a written promise to pay back a loan secured by collateral. Interest only means you'll make small, monthly interest payments, and final balloon payment means the last installment you pay is largeāthe principal balance of the loan.