Fixed Rate Promissory Notes

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Commonly Asked Questions about Fixed Rate Promissory Notes

What are the risks associated with promissory notes?

Promissory notes have set terms, or repayment periods, ranging from a few months to several years. Even legitimate promissory notes involve risks: competition, bad management or severe market conditions can impact the issuers ability to carry out its promise to pay interest and principal to note buyers.

Are promissory notes a good investment?

Typically, the rate of return promised is very high. And, the level of risk promised is very low. Promissory notes can be appropriate investments for many investors. But, promissory notes that are sold broadly to individual investors are often scams. Promissory Notes | Investor.gov Investor.gov fraud types-fraud promi Investor.gov fraud types-fraud promi

Does a promissory note have a fixed time?

What are the cons of a promissory note?

Some possible disadvantages are: You will likely pay a higher interest rate than for a secured loan. If you are using a promissory note because you dont have a good credit rating, you will likely pay a higher interest rate than if you obtained a commercial business loan from a bank or other institution.

What is the typical interest rate on a promissory note?

The borrower will likely argue it should be 8% per annum, which is the legal rate of interest. As a matter of contract law, if the parties did not agree on a lawful interest rate (i.e. 16% or less on a loan of less than $20,000.00) it would stand to reason that the legal interest rate of 8% per annum should apply. What Interest Rate Can I Charge in a Promissory Note? Vann Attorneys, PLLC what-interest-rate-can-i-char Vann Attorneys, PLLC what-interest-rate-can-i-char