Nebraska Promissory Note Templates

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Promissory notes set the terms for a borrower receiving money from a lender. These legally-recognized forms detail how much money the borrower received (known as the principal amount), when they need to pay it back, and whether the borrower must relinquish assets if they default on the loan.

The Nebraska promissory note maximum interest rate is quite high compared to other states — 16%, according to Nebraska Revised Statute 45-101.03. Borrowers and lenders may negotiate this percentage.

Nebraska has two types of promissory notes: secured and unsecured.

Nebraska Secured Promissory Note

A Nebraska promissory note requires borrowers to hand over an asset if they’re unable to pay the loan. Using a secured promissory note template Nebraska means that the lender will receive compensation for the loan no matter what.

Secured promissory notes can be between any two parties, such as a bank and an individual, two individuals, or a lending company to an individual.

Since you can easily find a free Nebraska promissory note template online, any two parties can fill one out and sign it to create a binding agreement. A notary public must usually sign the note to attest that both parties were present.

A promissory note Nebraska form will require the following information:

  • The date of the signature of the document
  • The borrower’s full name and address
  • The lender’s full name and address
  • The interest rate
  • Which of the borrower’s assets the borrower will use as collateral
  • Deadline for the payment
  • Signatures from the borrower, lender, and notary public

Nebraska Unsecured Promissory Note

Unsecured Nebraska promissory notes do not require the borrower to relinquish assets to the lender should they be unable to pay. The borrower may feel less urgency to pay back the lender as a result, which is why friends and family members will typically use this type of notes. Social capital is used as collateral.

An unsecured Nebraska promissory note will have the same information as a secured note, but there won’t be a section for assets used as collateral.


The borrower and lender are the two main parties of a promissory note:

  • The borrower receives money and would have to relinquish collateral assets if they’re unable to pay a secured promissory note.
  • The lender gives money and receives payments and interest in return. A secured promissory note ensures that they receive assets, should the borrower become unable to make loan payments.

No. There is no minimum interest fee in a promissory note. However, lenders may want an interest rate to prompt the borrower to pay back the loan faster.

Despite the fact that there is no stipulated collateral in the note, all promissory notes are still legally enforceable. Lenders can take the borrower to a small claims court, and the ruling will more than likely be in favor of the lender if the promissory note is legitimate.

Promissory notes can expire. In Nebraska, all notes have a ten-year statute of limitations.