A Loan promissory note is a legal document between two parties. The promissory note form acts as a promise that the borrower will pay the amount borrowed on the due date. It allows you to specify how the payment will made either through installments or through a full payment. The example sample promissory note is a written evidence that shows the amount a given borrower owes your business.
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It allows flexibility because it provides you with the opportunity to specify payment dates and loan terms. It is a secure way of lending money without undergoing any loss. It allows two parties, you the lender and the borrower, to make amendments and promissory note templates.
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