Georgia Promissory Note Templates

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A Georgia promissory note is a written contract memorializing the details of a loan between two parties. Promissory notes add structure and clarity to a loan agreement, and they help the lender receive payments on time.

These documents should include information about both parties, including their names and addresses, the date of the loan, the loan amount, interest, and payment plan. Additionally, clauses that further explain the terms of the loan are helpful, such as how much interest is due in case the borrower defaults, attorney fees, and acceleration.

As promissory notes are considered contracts, they are subject to Georgia laws on contracts, collections, and interest rates on loans. In this state, they can be secured or unsecured.

Georgia Secured Promissory Note

The main difference between secured and unsecured loans is that to enter into a secured loan in Georgia, the borrower must offer some form of collateral. Should the borrower default on the loan, the lender may legally take possession of the collateral, which is typically something of value. Both parties must agree on the item offered before signing the contract.

When drafting a secured promissory note in Georgia, in addition to the information listed above, the form should reflect that the promissory is secured. Also, the particulars of the collateral offered should be detailed.

Click here to download a free Georgia promissory note form.

Georgia Unsecured Promissory Note

Unsecured promissory notes, on the other hand, are not backed by collateral. As such, they typically have higher interest rates, and they are usually given to borrowers that are considered trustworthy. This type of loan is also more common among close friends and family members.

The main difference when drafting an unsecured promissory note is that it will not include mention of any collateral.

Click here to download a free unsecured promissory note template Georgia.


It’s essential to verify your state’s usury laws, as they vary from state to state.

Georgia’s legal interest rate is 7% per year when not specified on the promissory note. For loans of less than $3,000, the maximum interest rate is 16%. Lenders can charge any rate they want for loans of more than $250,000 as long as they specify the amount in writing on the promissory note.

Exceeding the maximum interest rate can render the promissory note invalid, and the lender may also face legal action from the state.

To enforce a promissory note Georgia form, the borrower must sign and date the form. An additional witness signature is also required, and in Georgia, the promissory note must be notarized for it to take effect.

Document stamp tax is Georgia is set at $1.50 for each $500.00 or fractional part of the face amount of the note. The maximum amount of document stamp tax on a promissory note is $25,000. Either the lender or the borrower may pay this tax.