Florida Promissory Note Templates

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A Florida promissory note is a written document designed to provide structure and formality to a loan agreement between two parties.

For a promissory note to be valid, it must contain certain information. The names and addresses of the borrower and lender, the date of creation, the principal loan amount, payment information, and the amount of interest charged on the loan have to be clearly stated.

Additionally, other clauses detailing the conditions of the agreement should be included. Some standard terms that lenders and borrowers add to promissory notes are:

  • Payment allocation
  • Prepayment
  • Interest owed in case of default
  • Acceleration
  • Attorney fees and costs

As they are considered contracts, promissory notes are subject to Florida law. There are some restrictions to be aware of, which can be consulted in the Title XXXIX Chapter 679 of the Florida Statutes.

Promissory notes in Florida may be secured or unsecured.

Florida Secured Promissory Note

With a secured promissory note, the borrower must pledge some of their assets to back the loan. Should they fail to pay it, the lender can legally take possession of the collateral. This type of loan offers the lender the most legal guarantees of recovering their money. Borrowers generally pledge items of high value, such as cars, boats, or homes.

Secured promissory notes should include all the information mentioned above. They should also clearly detail the specifics of the collateral. If not correctly identified, a court may find that the note is unsecured.

Click here to download our free secured promissory note template Florida.

Florida Unsecured Promissory Note

An unsecured promissory note does not provide the lender any protection in the way of collateral if the borrower defaults on the balance. This type of loan is typically reserved for individuals who are considered trustworthy based on their net worth or credit history.

An unsecured promissory note includes all the same information as the secured version. However, it will not contain any mention of collateral.

Click here to download our free Florida promissory note template.


The amount of the loan determines the maximum amount of interest that a lender may charge. Florida state law sets the cap at 18% percent for loans of less than $500,000 and 25% for loans over $500,000. Lenders who charge more than the amount permitted by law may invalidate the loan and face prosecution by the state of Florida.

The state of Florida requires document stamp payment on promissory notes. The rate is 35 cents for every $100 of the loan, payable to the Florida Department of Revenue. Any of the parties to this taxable transaction may pay the tax.

Once the promissory note Florida form is filled out and includes all the relevant information, both the lender and the borrower must sign the form. Two witness signatures are also required, though the document need not be signed in the presence of a notary.