Free Ohio Promissory Note

Filling in a Blank Ohio Promissory Note: Everything You Should Know

Every transaction between a debtor and creditor requires some paperwork, whether involving small or large amounts of money. The lenders must try their best to make the transaction as formal as possible without leaving any chances for the borrower to default on payment.

Among the necessary documents when lending money is an Ohio promissory note. Here, the lender and borrower will get a free blank promissory note, which they must fill in their respective areas to make the document valid as per Ohio state laws.

Individuals complete the blank promissory notes to protect themselves from future transaction problems. The document eliminates any confusion and answers any questions the borrower may have regarding the payment plan and duration. Keep reading to learn more.

What Should Be Included in the Ohio Promissory Note?

A valid promissory note should cite the following:

    • Money owed by the borrower
    • The interest rate
    • The payment plan or method (installments, lump-sum, on-demand)
    • The date of payment
    • Also, the promissory note should be sealed with both parties' signatures besides the lender and borrower's names, contact and addresses. They may also get a witness's signature and notarize the document for extra security.

      It is helpful for the lender to include as many details about the loan as possible. This step ensures that if anything goes wrong or if one party fails to fulfill its obligations, the other one is protected by Ohio state laws.

      How to Fill Out a Promissory Note

      Lenders and borrowers must be extra keen when filing the blank promissory note to avoid mistakes that could cost them in the long run. First, you should note that there are two types of promissory notes.


      Unsecured promissory notes are primarily used in personal loans. They are informal and less complex. The promissory notes are not secured with collateral, so if you are the debtor default on payment, the lender has nothing to foreclose unless the court finds an asset that covers your loan. It's not the best option for big loans.


      Secured promissory notes are formal and complex. But they are the best choice for big loans or where the borrower doesn't have a good track record.

      If the borrower fails to fulfill their obligation, the creditor can use the item as collateral to cover the loan. The asset used for security should have a value equal to or higher than the loan amount.

      Here is an example of how to fill a secured promissory note.

      The Basic Details

      These include the lender and debtor's names and addresses, the current date, amount of credit, and interest rates.

      Payment Plan

      Write down your preferred payment method, which could be interest-only, installments, lump sum, or on-demand.

      The Due Date

      This outlines the specific date you want the debtor to pay the loan or make their first installment. While at this, indicate whether the payment includes principal and interest rate.

      Interest Rate

      Indicate the interest rates and your conditions for charging that percentage.

      Late Fees

      Outline what happens if the borrower doesn't make payment before or on the particular payment date. If you intend to incorporate late fees, include them in the promissory note.

      Select Collateral

      Select the item you wish to use as security. This could be a house, car, or an intangible asset such as a trademark.

      Sign the Note

      After filling all the blank areas, the lender, borrower, and a witness should all sign the paper.

      The good news is that you don't have to create a promissory note from scratch. Download a free Ohio promissory note form on our site, customized to your liking based on the type of loan.