Missouri Secured Promissory Note Template
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The Missouri Secured Promissory Note Template is a legal document entered into by two parties: a lender and borrower. Secured promissory notes are used to outline the principal sum, interest rates, installment amount/schedule, and other terms of a loan. The note is “secured” due to having the backing of the borrower’s pledged assets (i.e. collateral). In the event of default, the lender has the legal right to take possession of the collateral in order to recoup the amount that was loaned to the borrower.

How to Write

Step 1 – Download the template via the links on this page.

Step 2 – Enter the following:

• Date
• Name/address of borrower
• Name/address of lender
• AND
• Submit the principal sum/interest rate

Step 3 – Payments:

• Select the payment method the borrower has agreed to (“No Installments” – “Installments” – “Interest Only”).
• Provide the installment amount if applicable.
• Submit the monthly/weekly payment schedule if required.

Step 4 – Due Date:

• Fill in the agreed upon due date.

Step 5 – Interest Due in Event of Default:

• The interest rate entered in this subsection is the rate that shall be applied to the balance if the borrower defaults on the note.
• Submit the agreed upon interest rate.

Step 6 – Late Fees:

• Provide how long the borrower will have after missing a payment before the lender will charge a late fee to the account.
• Submit the late fee that will be charged should the borrower not make a payment within the aforementioned time frame.

Step 7 – Acceleration:

• Fill in the number of days the borrower will have after defaulting on the note to “cure” the default.

Step 8 – Security:

• This subsection is for the description of the borrower’s assets (i.e. security).

Step 9 – Signatures:

• Fill out the date information in the first input field.
• Submit the name of the borrower.
• Borrower is required to sign their name.
• Lender/representative must print and sign their name.
• The witnesses MUST sign the form in the allotted input fields.