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| How to Make a Loan |
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| Notes and Terminology |
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Download your free loan worksheet and sample promissory note.
The sample promissory notes are provided to you as example of simple note documentation.
Contract law and interest rate rules vary by state and it is important to have this
and any note document reviewed by legal counsel before use.
A poorly managed and documented loan may subject the Lender to Federal and State gift taxes. See the following links for more information.
http://www.irs.gov/businesses/small/article/0,,id=108139,00.html
http://www.irs.gov/pub/irs-pdf/p950.pdf
Use ZimpleMoney, as an independent third party, to show evidence of billing, collection,
tax accounting, payment posting, and funds distribution. Document your loan with
the help of legal counsel.
Using the FREE ZimpleMoney
Payment Calculator
you can decide which note and terms best suit your situation and the borrower’s
ability to pay.
>> Need help setting up
your loan on ZimpleMoney?