Whether you’re lending money to a friend, helping a family member with a down payment, or financing a business deal, a promissory note is your best protection. It documents the loan terms, repayment schedule, and legal obligations—creating transparency and trust.
To make this process simple and professional, we’ve compiled 48+ free promissory note templates in Word format. These templates are customizable, legally structured, and ready for personal, commercial, or real estate use.
✔️ What Is a Promissory Note?
A promissory note is a written promise that one party (the borrower) will repay a specific amount of money to another party (the lender) under agreed-upon terms.
A standard promissory note includes:
- Borrower and lender names
- Loan amount and issue date
- Interest rate (if applicable)
- Repayment schedule (installments or lump sum)
- Late fees and penalties
- Collateral (if secured)
- Signatures of all involved parties
It’s a legally binding financial document and often used in both personal and business transactions.
✔️ When Should You Use a Promissory Note?
Promissory notes are useful in situations such as:
- Personal loans between friends or family
- Real estate financing (owner financing or down payments)
- Business loans between partners or investors
- Installment payments for vehicles, equipment, or services
- Student loans or educational support
- Debt settlements and payment plans
If money is being lent and repayment is expected, a promissory note adds security and formality.
✔️ Why These 48+ Templates Are Ideal for You
✅ Available in Microsoft Word – Easy to customize and print
✅ Written in legal language – Structured by legal professionals
✅ Covers personal, business, and real estate loans
✅ Includes both secured and unsecured note formats
✅ Free and printable – No subscriptions or software required
✅ Fully editable – Add your terms, names, and signatures
✅ Designed for U.S. and international use – Adaptable to your local laws
Whether you’re lending $500 or $50,000, these templates provide legal clarity without lawyer fees.
✔️ What’s Included in the Template Collection?
This comprehensive set of 48+ promissory note templates includes:
📝 Personal Loan Templates
- Simple promissory notes for small, informal loans
- Templates with or without interest clauses
- Customizable payment schedules
💼 Business Loan Templates
- Commercial promissory notes with default clauses
- Templates for employer-employee loans
- Business-to-business credit agreements
🏠 Real Estate and Secured Notes
- Secured promissory notes using property, vehicles, or collateral
- Notes for seller-financed home purchases
- Documents for second mortgages or rent-to-own deals
🧾 Specialized Templates
- Lump sum repayment or installment-based formats
- Balloon payment structures
- Amortization options with interest tracking
- Templates including witness or notary sections
All templates are editable and structured for legal enforceability.
✔️ How to Use a Promissory Note Template Effectively
- Input lender and borrower information – Full legal names and addresses
- State the principal loan amount – Include currency and issue date
- Add interest rate – If applicable, specify APR or flat rate
- Define the repayment terms – Installments, due dates, or balloon payment
- Include late payment fees or default terms
- Attach collateral terms if secured
- Sign the agreement – Include witness or notary if required
- Provide copies to both parties – Keep for records and enforceability
This process ensures the loan is legally documented, fair, and enforceable in case of dispute.
✔️ Tips for Customizing Your Template
☑️ Replace placeholders with your names and terms
☑️ Adjust the interest rate based on your local laws or agreement
☑️ Use clear, specific dates for repayment milestones
☑️ Add a clause about prepayment penalties or forgiveness
☑️ Indicate governing jurisdiction (state or country)
☑️ Include a witness section for added credibility
☑️ Have the document notarized for stronger legal standing
Even small edits help tailor the template to your exact lending scenario.
✔️ Who Should Use These Templates?
These free promissory note templates are useful for:
☑️ Individuals lending money to friends or family
☑️ Freelancers or contractors offering delayed payment terms
☑️ Small business owners financing inventory or services
☑️ Real estate agents and property owners offering seller financing
☑️ Employers providing wage advances or emergency loans
☑️ Anyone formalizing a personal or professional loan
No matter the context, these templates offer confidence, clarity, and control.
➡️ Download and Safeguard Your Lending Agreements Today
Whether you’re helping a friend, financing a purchase, or lending as part of a business deal, a written promissory note ensures both parties are on the same page.
👉 Download 48+ Free Promissory Note Templates in Word now.
Customize. Sign. Share. And protect your financial agreements—legally and professionally.
Because every loan—no matter how small—deserves proper documentation.
