Promissory Note for Multiple Advances | Canada

Secure repayment of a loan with this Demand Promissory Note template for Canada.

• This is a simple form of Promissory Note, which is:
  • payable on demand,
  • accrues interest at a specified rate, and
  • can be prepaid without penalty.
• You can use this Demand Promissory Note anywhere in Canada.
• Download the MS Word file, fill in the details and print. Use it as often as you need to.

Secure the repayment of a loan made in Canada with this Promissory Note for Interest Only.

• This form of Note allows the borrower to make payments against interest only, with no payments to be made against the principal amount until the date specified in the Note.
• Interest payments will be made in arrears, at regularly scheduled dates.
• The principal may be repaid at any time without a penalty (fee) being charged.
• This template is in MS Word format and can be edited as necessary to include all the specifics of your transaction.
• Intended for use only in Canada.

When lending money to a friend or family member in Canada, you may choose not to charge the borrower interest.

Even in these cases, it is important to secure a formal commitment from the borrower to repay the loaned amount. Obtaining a signed Demand Promissory Note for principal only ensures that the borrower is legally obliged to repay the principal.

When and Where to Use the Form

• This type of Promissory Note is most frequently used when the lender and borrower share a close relationship, such as family members.
• This Demand Promissory Note is intended for use within Canada. It is suitable for all provinces and territories except Québec, where a different French-language form may be needed.

Repayment Terms

Because the loan is interest-free, the borrower is required only to return the principal amount borrowed. No interest will accrue on the loan.

Format and Accessibility

The Demand Promissory Note is available as a digital download in MS Word format, making it convenient to use and customize.

Overview of the Grid Note

The downloadable Grid Note, also known as a Term Note, is prepared to secure multiple advances of loan proceeds. This document is suitable for use in various lending scenarios where funds are released in stages rather than as a single lump sum.

When and Where to Use This Form

The Grid Note is structured to cover multiple advances or stages of funding. It is particularly relevant in cases where the lending agreement specifies that loan proceeds will be disbursed in separate instalments over time.

This form of Note is frequently utilized for construction financing. In such contexts, numerous advances of loan proceeds are often required as the project progresses through various phases.

This form can be used across Canada, making it a versatile tool for borrowers and lenders engaged in lending agreements nationwide. A different French-language form may be required in Quebec.

Format and Usability

Provided in MS Word format, the Grid Note is easy to download, fill in with the necessary details, and print for use in your lending transactions.

Are you loaning money to a person or a company in Canada? Secure your interest as a creditor with this Promissory Note and Guarantee.

• The borrower agrees to pay the secured amount by monthly payments (not necessarily equal payments).
• The Note includes a guarantee of payment by a guarantor.
• The guarantor also agrees to ensure that the creditor receives a monthly installment payment equal to a specified percentage of the guarantor's net revenue.
• This form is available as a downloadable and fully customizable MS Word file.
• Intended for use only in Canada.