Secured Promissory Note Template Georgia

Georgia law states that the legal rate of interest when not specified is 7 per annum simple interest.

Secured promissory note template georgia.

A secured promissory note is a document that allows a lender to lend money with the added insurance of having assets property to be handed over to them in the chance the borrower defaults. When selecting the interest rate for the balance make sure to check ga st t. Remember most lenders will not agree to lend to you if you do not have a secured promissory note pdf. The georgia secured promissory note template is a legal document that is available in pdf or word format via the links on this page.

This type of note carries less risk to the lender and usually allows the borrower to pay a lesser interest rate. The georgia secured promissory note template is a legal document that is available in pdf or word format via the links on this page. You need to think about three things before borrowing money. 7 4 2 and 7 4 18 to ensure you are using the correct interest rate.

The document outlines the various terms of a loan including the principal sum interest rate interest due in the event of default and more. Unsecured promissory note offers no guarantee for the lender to recoup the loaned money. Secured promissory note templates 9 free word excel pdf format download. The amount to borrow the terms of the lender and repayment intervals.

Download this georgia promissory note form in order to document a loan of money between two people in georgia for a specified period of time.