Products tagged with 'grid note for loan advances'

Draw up a Grid Promissory Note for multiple advances with this customizable template.

• The Grid Note is made as security for a lending agreement between the borrower and the lender.
• This form of Note is often used to secure a loan where more than one advance of loan proceeds would be made, such as construction financing.
• This is a generic legal form which can be used anywhere.
• The Grid Promissory Note for Multiple Loan Advances template is easy to download, fill in with your details, and print.

Use this downloadable Grid Promissory Note to secure multiple advances of loan proceeds anywhere in Canada.

What is a grid note?

A grid note, also known as a term note, is used 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 would I use this grid promissory note?

This 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.

Format and Legal Jurisdiction

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.

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