what are the pros and cons of a promissory note 
a promissory note can be advantageous when an entity is unable to secure a loan from a traditional lender such as a bank however promissory notes can be risky as the lender may not have the same means and scale of resources as traditional financial institutions at the same time legal issues could arise for both the issuer and payee in the event of default because of this getting a promissory note notarized can be important the bottom linea promissory note is a written promise by one party to make a payment of money at a date in the future although potentially issued by financial institutions other organizations or individuals can use promissory notes to confirm the agreed terms of a loan in short a promissory note allows anyone to act as a lender however the average investor should be wary of and heavily research any sales pitches for promissory notes as an investment 