Promissory Note
A promissory note is a written, signed promise by a borrower to repay a specified sum of money to a lender, either on demand or by a set date, under stated interest and repayment terms. Use this when you're lending or borrowing money between individuals or small businesses and want a signed, dated record of the amount, interest, and repayment terms — without a bank or notary.
What's included
A ready-to-use promissory note with signature fields already placed for Borrower. Fill in the bracketed details (like [Company Name] or [Date]) using Docracy's built-in text editor, then send it out for signature.
This is a general template for informational purposes only and does not constitute legal advice. Consult a qualified attorney to review it for your specific situation and jurisdiction before use.
Key clauses
- Principal loan amount
- Interest rate
- Repayment schedule
- Maturity date
- Default and remedies
- Prepayment rights
What you'll fill in
[Borrower Name][Lender Name][Principal Loan Amount][Interest Rate][Repayment Schedule][Maturity Date][Late Payment/Default Terms][Governing Payment Method]Legal summary
Signing a promissory note creates a binding, written promise that the borrower will repay the stated principal plus any interest according to the agreed schedule. It gives the lender documented evidence of the loan's terms and provides a basis for pursuing repayment if the borrower defaults.
Free for up to 2 signers, no account required. Need unlimited? Flat $10/month.
FAQ
Is this Promissory Note legally binding?
Signing through Docracy uses a simple electronic signature (SES), which is legally recognized for everyday business agreements under laws like the U.S. ESIGN Act and the EU's eIDAS regulation. This is a general template, not legal advice — for high-stakes or regulated agreements, have a qualified attorney review it for your situation.
Who needs to sign this Promissory Note?
This template includes signature fields for Borrower — already placed, so you just fill in the details and send.
Can I edit this Promissory Note before sending it?
Yes — Docracy's editor lets you edit the text, add or remove signature fields, redact sections, and reorder pages before you send it.
Do I need an account to send this Promissory Note?
No — it's free for up to 2 signers with no account required. Create a free account only if you want to save it to a dashboard or reuse it later.
Try it with an AI assistant
Paste one of these into ChatGPT, Claude, or your assistant of choice:
“Generate a filled Promissory Note using this template for a personal loan between friends.”
“Explain how the interest rate and repayment schedule interact in this Promissory Note.”
“Adapt this Promissory Note for a small business loan with monthly installment repayments.”
Why teams start with Docracy
“Docracy is a great product that I have tested and am using. It is easy to use, has good tools, is always up to date, and implements new features. Highly recommended.”— DACH Advisory
Free for up to 2 signers, no account required. Need unlimited? Flat $10/month.