Financial Template
Free Promissory Note Template
A promissory note is a written promise to pay a specified sum of money by a certain date.
Template
Copy this markdown, replace the {{variables}}, and send via API.
# Promissory Note
**Borrower:** {{borrowerName}}
**Lender:** {{lenderName}}
**Date:** {{date}}
## Promise to Pay
I, {{borrowerName}}, promise to pay {{lenderName}} the sum of {{amount}} by {{dueDate}}.
## Interest
{{interestTerms}}
## Payment
{{paymentMethod}}
## Default
{{defaultConsequences}}Send for e-signature
curl -X POST https://signb.ee/api/send \
-H "Authorization: Bearer YOUR_API_KEY" \
-H "Content-Type: application/json" \
-d '{
"content": "YOUR_RENDERED_MARKDOWN",
"senderName": "Your Name",
"senderEmail": "you@company.com",
"recipientName": "Recipient",
"recipientEmail": "recipient@email.com"
}'What happens next
- Signbee converts the markdown to a professional PDF
- Recipient gets an email with a signing link
- Both parties sign with an animated handwriting signature
- Both receive the signed PDF with a SHA-256 certificate
All signatures are legally binding under the ESIGN Act, eIDAS, and ECA.
More details
A promissory note is a simpler, more streamlined document than a full loan agreement. It's a unilateral promise from the borrower to pay the lender a specified amount under specified terms. While a loan agreement is bilateral (both parties have obligations), a promissory note is primarily the borrower's promise.
Promissory note vs loan agreement — when to use which: - Promissory note: Simple loans with straightforward terms. One lender, one borrower, fixed repayment. Common for personal loans, small business loans, and real estate transactions. - Loan agreement: Complex loans with multiple conditions, covenants, collateral, representations, and warranties. Common for commercial lending and multi-party arrangements. - Key difference: A promissory note is a negotiable instrument — it can be transferred to a third party who then has the right to collect. A loan agreement typically cannot be transferred without consent.
Types of promissory note: - Demand note: Payable whenever the lender demands. No fixed due date. Useful for informal arrangements but creates uncertainty for the borrower. - Fixed-term note: Due on a specific date. The most common type. Clear expectations for both parties. - Instalment note: Paid in regular instalments over time. Each payment covers a portion of principal and interest. - Secured note: Backed by collateral. The lender can seize specified assets if the borrower defaults. - Unsecured note: No collateral. Relies entirely on the borrower's promise and creditworthiness.
Legal requirements for enforceability: 1. Must be in writing (oral promissory notes are generally unenforceable) 2. Must contain an unconditional promise to pay 3. Must state a definite amount 4. Must be signed by the borrower 5. Must identify the lender (payee) 6. Must specify payment terms (date or on demand)
Frequently asked questions
What is the difference between a promissory note and a loan agreement?
A promissory note is a simple, unilateral promise to pay. A loan agreement is a bilateral contract with obligations for both parties. Promissory notes are also negotiable instruments that can be transferred to third parties. Use a promissory note for simple loans; use a loan agreement for complex arrangements with collateral or covenants.
Is a promissory note legally enforceable?
Yes, if it meets basic requirements: written form, unconditional promise to pay, definite amount, borrower's signature, identified lender, and specified payment terms. A properly drafted promissory note is enforceable in court.
Can promissory notes be signed electronically?
Yes. Promissory notes are valid with electronic signatures under ESIGN (US), eIDAS (EU), and ECA (UK). The electronic record provides timestamped evidence of the borrower's promise to pay.
Related resources
Send this template for signing — free, no credit card.