Promissory Note (Installment or Lump Sum)：2026 模板

Principal amount: $[Principal amount] · Date: [Date] · Place: [City], [State]

1. Promise to Pay

For value received, [Borrower full legal name], of [Borrower address] ("Borrower"), promises to pay to the order of [Lender full legal name], of [Lender address] ("Lender"), the principal sum of $[Principal amount] ([Amount in words] U.S. dollars), with interest as provided below.

2. Interest

Interest accrues on the unpaid principal from [Interest start date] at [Interest rate]% per year, calculated on a [365-day year / 360-day year] basis. The parties confirm that this rate does not exceed the maximum lawful rate under [State] law; if it does, the rate is reduced to the maximum lawful rate.

3. Repayment

Borrower will repay the loan as follows: (Choose: a single payment of all principal and interest on [Maturity date] / [Number] equal monthly installments of $[Installment amount] beginning [First payment date], with any remaining balance due on [Maturity date]).

Payments are made to [Payment address or account] and applied first to accrued interest, then to principal.

4. Prepayment