Create a Legally Compliant Promissory Note for Your State in Minutes

State-Specific Promissory Notes for Every Lending Situation

A promissory note is one of the most important documents in any lending relationship. It establishes a legally binding promise from a borrower to repay a specific amount of money to a lender under defined terms, covering everything from interest rates and payment schedules to default remedies and late fees. Every state in the US has its own usury laws that set maximum allowable interest rates, and violating these limits can result in severe penalties including forfeiture of all interest or even the entire principal.

For example, California limits general loans to 10% annual interest for personal loans and 7% when no rate is specified in writing. New York caps interest at 16% and considers anything above 25% criminal usury. Texas allows up to 10% for written agreements but has different rules for commercial transactions. Florida sets its general usury limit at 18% with criminal penalties above 25%. These differences matter because a promissory note that does not account for your state's specific usury laws can be unenforceable or expose the lender to legal liability.

Your Promissory Note generates state-specific, professionally formatted documents that comply with your jurisdiction's usury limits and legal requirements. Whether you are lending money to a family member, financing a vehicle sale, structuring a business loan, or formalizing any other debt, our platform helps you create a compliant promissory note quickly and affordably.