Personal Loan Family Member Promissory Note Template

Unfortunately memories fade and disagreements do arise.

Personal loan family member promissory note template. The family loan agreement is a document that is made between relation by blood or marriage with one 1 acting as borrower and the other a lender. This sample promissory note also available in microsoft word. The family member that is asking for the money may be required to pay an interest rate defined as a percent compounded annually by the lending party. If you re lending to a relative or friend you ll want to craft a written agreement this sample promissory note also available in microsoft word pdf and plain text downloadable files spells out how and when you are to be paid and what happens if the borrower doesn t repay the loan. This agreement can also apply to lending money to close friends with an aim of getting back your money with an interest after a certain duration of time.

Scroll to the bottom for a blank repayment schedule that you can fill in. Sample promissory note for loans to family friends. Protect yourself by creating and signing a document called a promissory note in order to detail and record the terms of the loan agreement. If you re lending to a relative or friend you ll want to craft a written agreement this sample promissory note also available in microsoft word pdf and plain text downloadable files spells out.