New Jersey Secured Promissory Note Template

Use the New Jersey Secured Promissory Note Template to create a free note (designed for use in the State of New Jersey). Promissory notes are used to detail various aspects of a loan (e.g. amount, interest percentage, payment method, etc.). The instructional guide posted below may be used as a reference when drafting your note.

Note: Secured notes require the borrower to pledge collateral (i.e. security).

How to Write

Step 1 – Download the template.

Note: The .PDF template can be completed electronically.

Step 2 – The note’s opening paragraph is required to have the following information:

  • Date of agreement
  • Full name of lender (printed)
  • Address of lender
  • Printed name of borrower
  • Address of borrower
  • AND
  • The agreed upon principal sum/interest rate must be submitted

Step 3 – Payments – The borrower may select one of three payment methods:

  • No Installments
  • Installments – Provide the amount the borrower has agreed to pay as an installment.
  • Interest Only

Step 4 – If the chosen method is “Installments” OR “Interest Only,” the following details must be submitted:

  • Monthly payment schedule
  • OR
  • Weekly payment schedule

Step 5 – Due Date – Provide the date in which the full balance of the note (in addition to interest/fees/etc.) will be due by.

Step 6 – Interest Due in Event of Default:

  • Should the borrower go into default, they must pay the interest percentage submitted in this subsection.

Step 7 – Late Fees:

  • Fill in the period of time the borrower will have to make a past-due payment. Should the borrower fail to make the payment within the number of days submitted in this subsection, they will be charged a late fee.
  • Submit the amount that will be charged as a late fee.

Step 8 – Acceleration:

  • In the event of a default, the lender shall provide the borrower a specific period of time to “cure” the default before they take further action.
  • Enter how long the borrower will have to bring the account current.

Step 9 – Security:

  • Fill in a description of the secured asset(s).

Step 10 – Signatures:

  • The last subsection of the document is where the parties must submit their signatures.
  • Enter the names of the borrower, lender, and witnesses.
  • Fill in the date.
  • AND
  • Borrower must submit a signature.
  • Lender must provide a signatures.
  • Witnesses are REQUIRED to sign the document.
New Jersey Secured Promissory Note - Adobe PDF - Microsoft Word

New Jersey Secured Promissory NoteAdobe PDFMicrosoft Word