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TOPIC: Re:continuing loan

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#7750

Tim46 (User)

Expert Boarder

Posts: 120

continuing loan 7 Years ago	Karma: 4
How would you structure a promissory note where i have given money in the past to someone and i expect that i will have to give more money in the future so that person? Its a continuing loan. So, how would you phrase the fact that the promissory note is for a continuing loan?

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#7829

Miami LS (User)

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Posts: 181

Re:continuing loan 6 Years, 11 Months ago	Karma: 0
Create either a secured or unsecured promissory note. If the Payee will be making continuing payment to the Maker, then you reference that in the note. In fact, the Maker can sign with continued or advance loan acknowledging the additional loan and it can be incorporated by reference in the note. If you want, draft a note generically without names and I can critique it online.

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