Ohio Secured Promissory Note Template

Use the instructions posted on this page to learn how to create an Ohio Secured Promissory Note Template. The template is available in two different formats: .PDF and MS Word. Secured promissory notes are a type of written agreement, entered into by a lender and borrower, that serve to establish the various terms of a loan (e.g. loaned amount, parties, interest rate, agreed payment schedule/method, etc.).

How to Write

Step 1 – Download the document.

Step 2 – The following details must be submitted into the appropriate input fields of the first paragraph:

  • Date (dd/m/yy).
  • Name/address of borrower
  • Name/address of lender
  • Loaned amount (i.e. principal sum)
  • Interest rate (per annum)

Step 3 – Payments – The borrower’s method of repayment must be selected from one of the following listed options:

  • No Installments
  • Installments* – provide the amount the borrower has agreed to pay each month/week.
  • Interest Only*
  • *If applicable – enter the monthly/weekly payment schedule.

Step 4 – Due Date – This subsection contains the date in which the entire principal sum (in addition to any fees/interest) is due by.

Step 5 – Interest Due in Event of Default:

  • Provide the interest that the borrower will be subject to should they default on the loan.

Step 6 – Late Fees:

  • Fill in the period of time which the lender shall provide the borrower if they miss a scheduled payment (before issuing a late fee).
  • Submit the amount that will be charged if the borrower does not make a payment within the specified time period.

Step 7 – Acceleration:

  • Enter the number of days the borrower will have, after defaulting on the loan, to pay the past-due amount.

Step 8 – Security:

  • Fill in a description of the collateral the borrower has provided as security.

Step 9 – Signatures:

  • Submit the date of the document’s signing.
  • Enter the printed names of the borrower, lender, and witnesses.
  • Borrower must provide a signature.
  • Lender must sign their name.
  • Witnesses are required to submit their signatures.
Ohio Secured Promissory Note - Adobe PDF - Microsoft Word

Ohio Secured Promissory NoteAdobe PDFMicrosoft Word

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