A Promissory Note with Balloon Payments is a loan contract that enables a lender set loan terms with one or more larger payments at the end. This lending document helps you to clarify the terms of a loan, define the payment schedule, and provide an amortization table, if the loan includes interest. As with any loan, it is important to ensure that everyone is clear on the terms. You wouldn't want to be surprised as the borrower by a substantially larger loan payment, nor would you want to be shorted as the lender. Make sure that everyone knows the details using a Promissory Note with Balloon Payments.
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