Secured Promissory Note Template

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This note shall take effect as a sealed instrument and be governed and enforced in accordance with the laws of _____. If Borrower breaches this provision, Lender may declare all sums due under this A promissory note is an agreement to pay back a loan.

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A secured promissory note and how it is different from unsecured promissory note.

An Unsecured Promissory Note is a document that details the borrowing of money from one individual or entity to another without security if the debt is not paid in full.

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Secured notes, in contrast to unsecured ones, require the backing of security (i.e. collateral). Templates for both secured promissory notes and unsecured promissory notes are available here. A Secured Promissory Note is a document used so that a party borrowing money, known as the Borrower, agrees to repay a party lending money, known as the Lender.

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