Georgia Promissory Note Template

A Georgia promissory note is a written promise made by an individual to pay back money they have borrowed from another individual or an entity. This type of agreement has a fixed date by which the money has to be paid back to the lender with interest. The parties can decide whether the borrower must pay the amount due in full upon the due date, or whether they must make installment payments (weekly, monthly, quarterly, etc.).

A promissory note can be unsecure or secure, the latter indicating that the borrower must provide collateral to the lender. A breach of contract could result in the lender accepting the collateral as full payment, or, if no collateral was provided, legal action filed against the borrower.

Last updated May 25th, 2025

Types (2)

Secured Promissory Note – A loan that requires the borrower to provide collateral as security.

Download: PDF, Word (.docx), OpenDocument

Unsecured Promissory Note – Records a loan that does not provide the lender with any security on their expense.

Download: PDF, Word (.docx), OpenDocument

Laws

Interest & Usury Laws: Title 7, Chapter 4, Article 1
Usury Rate With Contract ($3,000 – $250,000) (§ 7-4-2(a)(1)(A) and § 7-4-18(a)): 5% per month
Usury Rate Without Contract (§ 7-4-2(a)(1)(A)): 7%
Usury Rate With a Contract ($3,000 or Less) (§ 7-4-2(a)(2)): 16%
Usury Rate on Judgments (§ 7-4-12(a)): Over federal prime rate plus 3%.
Usury Rate for Commercial Accounts (§ 7-4-16): 1.5% per month (after 30 days due)
Usury Rate Installment Loans ($3,000 or Less) (§ 7-3-11(1)): 10%
Usury Rate for Pawnbrokers (§ 44-12-131(a)(4)): 25% per month for first ninety (90) days; 12.5% per month beyond ninety (90) days (including shop charges).

Georgia Promissory Note Template

Georgia Promissory Note Template

Types (2)

Laws

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