Secured Promissory Note
A loan agreement backed by specific collateral (vehicle, equipment, property). If the borrower defaults, the lender can seize the collateral.
Why you need one
Collateral protection
The lender has a security interest in specific property — much stronger protection than an unsecured note.
UCC compliance
Includes proper security agreement language for perfection of the lender's interest.
Seizure rights
Defines the lender's right to seize collateral if the borrower defaults — with proper notice procedures.
Higher approval odds
Secured notes are easier to get because the lender has collateral to fall back on.
How it works
Answer a few questions
Takes about 10 minutes. Progress is saved as you go.
Pay a flat fee
Stripe checkout — cards + Apple Pay + Google Pay accepted.
Our expert team drafts it
State-specific, reviewed by an expert or partner attorney. 2 business days.
Download + sign
Delivered to your /account dashboard. Sign digitally or print + notarize.
What's in your document
- Loan amount & interest
- Collateral description
- Security agreement
- Default & seizure
- Insurance requirements
- Release of lien
Make it legal — after you receive it
Both parties sign
Lender and borrower sign. Notarization is required in many states.
File UCC-1 (if applicable)
For high-value collateral, file a UCC-1 financing statement to perfect your security interest.
Keep the original safe
The lender keeps the original. The borrower gets a copy.
Pairs well with
This is not legal advice. We draft legal documents and our team includes licensed experts who review each one, but we are not your law firm and nothing we deliver constitutes legal advice for your specific matter. Read our full disclaimer.
Competitor pricing checked against Rocket Lawyer and LegalZoom public pricing; excludes fees and may change. See our price sources for capture dates.
- State-specific — every state's format supported
- Delivered to your /account dashboard within 2 business days
- CPA + attorney review before delivery
- Free amendments for 30 days