Promissory Note Template Louisiana For Employee Loan

State:
Louisiana
Control #:
LA-5410
Format:
Word; 
Rich Text
Instant download

Description

A promissory note is a written document in which a borrower agrees (promises) to pay back money to a lender according to specified terms. This is an example of an installment promissory note, in which the loan is repaid in fixed installments at regular intervals (for example, month, quarter, or semi-annual) as specified in the note, along with interest. This is also an unsecured note, which means a note that is not secured by any collateral but only the promise to pay.

How to fill out Promissory Note Template Louisiana For Employee Loan?

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FAQ

If you're signing a promissory note, make sure it includes these details:Date. The promissory note should include the date it was created at the top of the page.Amount.Loan terms.Interest rate.Collateral.Lender and borrower information.Signatures.

Simple Promissory Note SampleInclude the date you are writing or the date you plan to send the note at the top. Write the total amount due in both numeric and long-form. Add a detailed description of the loan or note terms. For example, you'll need to include what the loan or payment is for, who will pay it and how.

There is no legal requirement for a promissory note to be notarized in Louisiana. Still, the parties may decide to have the document certified by a notary public for protection in the event of a lawsuit.

At its most basic, a promissory note should include the following things:Date.Name of the lender and borrower.Loan amount.Whether the loan is secured or unsecured. If it's secured with collateral: What is the collateral?Payment amount and frequency.Payment due date.Whether the loan has a cosigner, and if so, who.

You can use a template or create a promissory note online. But before you begin, you'll need to gather some information and make decisions about the way the loan will be structured. First, you'll need the names and addresses of both the lender (or "payee") and the borrower.

More info

Are you looking for a loan forgiveness or discharge form? Must submit a complete case file to the Loan Approval Official.All students and parents borrowing for the first time must complete a master promissory note (MPN) before loan funds can disburse. Promissory notes are essentially a type of written agreement that outlines the various facets of a loan between two parties (borrower and lender). Students must sign a Master Promissory Note with the Department of Education. Students must complete a Master Promissory Note and Entrance Loan counseling. Year, Dependent, Independent. Complete all forms, sign, date and mail or fax to the financial aid office. Must submit fee exemption certificate from the State of Louisiana. Whether for help with a down payment, credit card debt or family loans, any loan agreement can have legal, financial or tax implications.

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Promissory Note Template Louisiana For Employee Loan