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 ...

If you're lending someone a large amount of money, such as a personal loan to family or friends, writing a promissory note just as if you were a lender from a bank can formalize the process and ...

In addition to returning the principal, promissory notes generally offer some interest.. How to structure a loan. A founder looking to raise money through a promissory note should know how much ...

"A promissory note is basically an IOU," says Bill Maurer, director of the Institute for Money, Technology and Financial Inclusion at the University of California, Irvine.

A promissory note needs to be clear, specific, and detailed, so that there are no misunderstandings as to what both parties are agreeing to. Again, consulting a legal pro is best here.

Adam Barone is an award-winning journalist and the proprietor of ContentOven.com. He has 5+ years of experience as a content strategist/editor. Suzanne is a content marketer, writer, and fact ...