Should I Include Payment Terms in My Promissory Notes? | Banking & Finance > Banking, Lending & Credit Services from AllBusiness.com
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Should I Include Payment Terms in My Promissory Notes?

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Promissory notes can be drafted to require payment in a number of different ways, including:

  • equal monthly payments
  • equal monthly payments with a final balloon payment
  • interest-only payments and a final balloon payment
  • single lump-sum payment of principal and interest

Decide which of these choices work for you and your corporation, and draft your promissory notes accordingly.

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