Borrowing and lending money, whether between friends, family, or businesses, requires clear documentation to protect both parties involved. A well-defined agreement outlines the terms of the loan, preventing misunderstandings and providing legal recourse if necessary. One of the most crucial documents in this process is a Loan Promissory Note Template. This legally binding document details the borrower’s promise to repay a specific sum of money to the lender, under agreed-upon terms. Without a formal note, enforcing the loan agreement can become significantly more difficult, relying heavily on potentially unreliable recollections or informal records.