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Vermont Promissory Note Templates

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The Vermont promissory note templates are designed for transactions involving the loaning of money from a lender to a borrower. The templates help to ensure both parties are clear on the terms and conditions of the agreement as well as give the transactions some legal validity.


Secured Promissory Note – Provides the lender with a form of monetary protection. If the borrower defaults on the balance and cannot recover, the item put into security is automatically given to the lender to help cover the remaining unpaid balance.

Unsecured Promissory Note – Does not include security, leaving the lender at an increased risk for losing the loaned balance if the borrower cannot make payments. Screening potential borrowers and only working with family and friends can help decrease the risk of financial loss to the lender.

Usury Rate

The legal rate of interest in Vermont is 12% with some exceptions. 9 V.S.A. § 41a

How to Write –

Step 1 – Begin by downloading the Vermont note document – Proceed by providing:

  • The start date of the document in dd/m/yy format
  • The Borrower’s name
  • Mailing address
  • AND
  • Enter the Lender’s name
  • Mailing address
  • AND
  • Submit the amount of the principal on the note agreement
  • Submit the unpaid amount of the annual percentage rate

Step 2 – Payments –

  • Submit the full balance of the note to be satisfied upon the due date
  • Include the amount of late fees and accrued interest

Installments –

Payment method – Proceed by entering:

  • The full sum to be paid in full when the note is due
  • The total sum of the principal
  • Select payment frequency
  • Submit the amount that shall be required of the borrower for late fees

Step 3 –  Security-

  • Select “Secured”or “Unsecured” and check the box
  • If the requirement is that the note shall be a“secured,” agreement, submit a property description

Step 4 – Titled Sections and Subsections –

  • Interest due in the Event of Default
  • Allocation of Payments
  • Prepayment
  • Acceleration (and 6A.)
  • Attorney’s Fees and Costs
  • Waiver of Presentments
  • Non-Waiver
  • Severability
  • Integration
  • Conflicting Terms
  • Notice
  • Co-Signer – Provide the Co-signer’s name (if required)
  • Execution
  • Governing Law – (Vermont State Laws)

Step 5 – Signatures – Submit signatures before a witness:

  • Lender’s signature
  • Date of signature in mm/dd/yyyy format
  • Print name
  • AND
  • Borrower’s signature
  • Date of signature – mm/dd/yyyy
  • Print name
  • AND
  • Co-signer’s signature
  • Date signature  – dd/mm/yyyy format
  • Print full name
  • AND
  • Witness’ signature
  • Date of witness’ signature in mm/dd/yyyy format
  • Print name

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