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Loan Note

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Loan Note
A contract stating the terms of a loan, such as the principal, the interest rate, and the payment schedule. A loan note states the rights and obligations of both the lender and the borrower. If one party does not fulfill his/her obligations, the other may sue for redress.

Loan note. A loan note is a promissory agreement describing the terms of a loan and committing the person or institution borrowing the money to live up to those terms.

For example, a mortgage loan note states the principal balance, the interest rate, the discount points, a payment schedule and due date, and any potential penalties for violating the repayment terms.

When the required repayment has been made, the agreement between the parties ends.
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Chief executive David Chestnutt explained that the AIM-listed company decided to resort to a loan due to a combination of factors, including missing out on an expected payment which was due at the end of March and loan note and interest payments that were due at the end of June.
Cleaning firm ponders new share issue to raise funds; Loan facility ... by Daily Post (Liverpool, England)
Proventec also had a large payment to make at the end of June which coincided with a loan note and interest payments.
Proventec poised for equity raising by Liverpool Echo (Liverpool, England)
Rather than take cash I was advised to accept loan notes from the bidder.
Family Finance by Huddersfield Daily Examiner (Huddersfield, England)
 
 
 
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