1. Home »
  2. Loan Agreement »
  3. Promissory Note »
  4. Colorado

Colorado Promissory Note Template

Fill Now Click to fill, edit and sign this form now!

A Colorado promissory note is a type of debt agreement that establishes a borrower’s promise to repay money owed to a lender by a certain date. This arrangement often includes an interest rate added on top of the total amount owed by the borrower. In addition to the loan amount, interest rate, and date, a promissory note should include the names and addresses of both parties, how payments should be made (lump sum or installments), late fees, and collateral (if applicable).

Unlike a loan agreement, a promissory note is less extensive and does not cover the penalties that the borrower could incur if they default on their payments. However, signing a promissory note is legally binding and failure to adhere to the terms of the arrangement could result in a breach of contract lawsuit being filed by the lender.