This Promissory Note (with interest) - Unincorporated Association (club/charity) is suitable for borrowing small amounts from one or more lenders where interest on the loan is to be payable.
• others more generally. However, private individuals, banks or other organisations might well not agree to lend money to a charity or club which is an unincorporated association because unincorporated associations are not separate legal entities.
This template can only be used by a charity or club which is an unincorporated association. If a charity or club which is a corporate body wishes to raise finance, it should use one of the forms of Promissory Note for a corporate body included in this Subfolder.