Promissory Note
Advanced Legal Documents
Promissory Note — Guided Loan Repayment Agreement
Build a detailed repayment agreement through Locke Direct's deepest promissory-note interview. Gold distinguishes face principal from net proceeds, supports multiple borrowers and guarantor references, develops payment and interest mechanics, examines default and cure choices, and surfaces tax, consumer-credit, military, collateral, and enforcement issues for the customer to resolve. It coordinates the note without pretending that the note itself perfects a lien or creates a separate guaranty.
Also called: promissory note, guided promissory note, personal loan promissory note.
What you walk away with
A clean multi-page PDF and DOCX after you finish — not a web-form dump. Preview the document before you pay.
- PDF export
- DOCX export
- E-sign included
- No subscription
United States general drafting baseline. Usury ceilings, fee restrictions, consumer disclosures, military protections, guaranty rules, lien perfection, and enforcement remedies vary by jurisdiction and transaction. The package identifies review points but does not make legal, tax, lending, or regulatory determinations for the parties.
Jurisdiction details
See how this document starts in your state
Choose the state where the document will be used. The state page shows the maintained coverage level, local-rule limits, and a builder link with the canonical state code already selected.
When this fits
Use this document when…
- A private or family loan needs a detailed payment and default record
- An owner-to-company or company-to-owner loan needs documented funding and repayment terms
- A business-to-business advance includes fees, special payment mechanics, or multiple obligors
- Prior advances must be reconciled into a stated principal and funding history
- The transaction contemplates collateral or a guarantor and needs coordinated separate-document warnings
Before you start
Information you will need
- Every lender, borrower, co-borrower, guarantor reference, and authorized signer
- Loan purpose, advance history, face principal, net proceeds, and deducted or financed fees
- Interest type, rate, calculation basis, accrual start, and any proposed default rate
- Payment frequency, first due date, maturity, installment amount, balloon, and application order
- Prepayment, late-charge, returned-payment, default, notice, cure, and acceleration choices
- Collateral description, separate security steps, governing law, venue, notices, assignment, and amendments
What you receive
- Guided Promissory Note with transaction-specific provisions
- Payment Schedule and funding reconciliation exhibits
- Related-document and unresolved-issue review record
- PDF and editable DOCX downloads
- Electronic-signature and wet-signature versions
Document questions
Questions about this document
What is a Promissory Note — Guided Loan Repayment Agreement?
Build a detailed repayment agreement through Locke Direct's deepest promissory-note interview. Gold distinguishes face principal from net proceeds, supports multiple borrowers and guarantor references, develops payment and interest mechanics, examines default and cure choices, and surfaces tax, consumer-credit, military, collateral, and enforcement issues for the customer to resolve. It coordinates the note without pretending that the note itself perfects a lien or creates a separate guaranty.
How do I create a Promissory Note — Guided Loan Repayment Agreement?
A private or family loan needs a detailed payment and default record; An owner-to-company or company-to-owner loan needs documented funding and repayment terms; A business-to-business advance includes fees, special payment mechanics, or multiple obligors
What should a Promissory Note — Guided Loan Repayment Agreement include?
Every lender, borrower, co-borrower, guarantor reference, and authorized signer; Loan purpose, advance history, face principal, net proceeds, and deducted or financed fees; Interest type, rate, calculation basis, accrual start, and any proposed default rate; Payment frequency, first due date, maturity, installment amount, balloon, and application order; Prepayment, late-charge, returned-payment, default, notice, cure, and acceleration choices
Special situations
- A note that references collateral does not create or perfect the lien; separate collateral documents and perfection steps may be required.
- A guarantor must sign a separate guaranty identifying the obligation and the agreed scope of liability.
- Consumer, military, real-estate-secured, regulated-lender, private-education, payday, title-loan, and open-end credit transactions may require a different product or additional compliance work.
- Below-market related-party loans, original-issue discounts, forgiven interest, and company-owner transactions can carry tax consequences outside the document workflow.
Product scope
Choose the right promissory note scope
Current level
This Advanced Legal Documents product
Assembles a promissory note from guided answers with payment schedule exhibit, usury and tax-screening prompts, and blocked real-estate and prohibited-term paths.
Not included at this level
- Home-secured or real-estate financing
- Revolving line of credit
- Payday, title, or private student loans
- Full Regulation Z consumer-credit packaging
- Automatic perfection of a security interest
- Confession of judgment or wage assignment
Frequently asked questions
How is Gold different from the Customized note?
Both handle more than the basic note. Gold adds the deepest guided interview, eligibility and conflict screening, expanded party and advance history, and a structured unresolved-issue record for complicated choices.
Will Locke Direct choose the interest rate or default remedy?
No. Material financial and enforcement fields start from the customer's answers. Explanations describe consequences and flag conflicts, but the software does not select lender-favorable or borrower-favorable terms.
Does this package perfect collateral?
No. It can describe contemplated collateral and coordinate the note with a separate Security Agreement, but perfection may require filing, title notation, possession, or control outside this document.
Can it document money advanced before signing?
Yes. The questionnaire records the funding basis and prior advances so the stated principal and net proceeds can be reconciled instead of assumed.
What do I receive after purchase?
You receive the completed note and its generated schedules and review record in PDF and editable DOCX formats, with signature-ready versions.
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Not legal advice
Locke Direct helps structure documents and workflows. It does not replace a qualified lawyer for complex, unusual, or high-risk situations.
Last reviewed August 1, 2026.