Question:

What is a promissory note?

by Guest109239  |  6 years, 1 month(s) ago

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I have heard the term, but how does it differ from a normal bank loan?

 Tags: note, promissory

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2 ANSWERS

  1. Ron Collins

     Do not use all of these Private Money Lender here, there are not legitimate and if they have a free email account tag i.e. yahoo, gmail, hotmail, live etc then they are not legitimate. If they have telephone number with international dialing codes from Nigeria, India, UK, Singapore and France then you have to beware. A legitimate company would have a genuine website, personalized email address/account and based in the country they claim they are. I would recommend anyone looking a a serious/honest loan lender to visit: DAVID HERLEY FINANCE HOME BASED IN THE USA. They are located in the Orlando, Florida. USA and their reputation speaks louder than others in the industry when it come to obtaining loan, business financing, mortgage refinancing, debt consolidation and Real Estate Loans. You can search for them via GOOGLE.COM to see their full website information and contact details with email address. Their tel no: +1 (321)-323-1809, Website: www.dherleyfinancehome.net or Email: loans@dherleyfinancehome.net located in Orlando, Florida. USA.

  2. Kuljit Grewal
    A promissory note is a financial instrument in which a borrower agrees to pay the lendor an agreed amount of money at either a fixed date or a determinable time in the future. This may sound like a standard loan however the terms of a promissory note are more lenient. The greatest distinguishing factor is that loans often require minimum regular payments while promissory notes do not. Other differences are terms relating to defaulting on a note (non-existent) while loans are very clear in determining such issues. Last but not least, a note does not have to be signed by the lendor, only the borrower rather than both as is the case for loans.
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