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With DocHub, it is possible to create documents from scratch having an vast list of instruments and features. You can quickly change point in Promissory Note, add comments and sticky notes, and keep track of your document’s progress from start to end. Swiftly rotate and reorganize, and blend PDF documents and work with any available formatting. Forget about looking for third-party solutions to deal with the standard requirements of document generation and use DocHub.
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- Hey there, this is Seth, and in this video, Im going to give you a really quick overview of what a promissory note is and how you can put one together really quickly, if thats something you need to do. A promissory note is a type of lending instrument that has been used for centuries. And essentially what this is is just a simple document that lays out the terms and conditions between a borrower and a lender. And it basically just explains that there is a set amount of money that the borrower owes to the lender, and it usually details any interest payments that are included with that. Promissory notes can be set up in all kinds of different ways. You can set them up with balloon payments, so basically theres interest-only payments for a certain amount of time, and then boom, the entire balance is paid off, or you can set it up with whats called straight line amortization, which is basically just a fixed payment for the life of the loan. There isnt a balloon payment at the end.