DOWNLOAD this Massachusetts Promissory Note Form which represents a loan transaction where a lender lends money to a borrower in Massachusetts for an agreed upon period of time at an agreed upon interest rate. The lender and borrower can also agree to whether the the money lent will be repaid in regular monthly installments or in a ballon payment at the end of the term. They can also decide that the loan will be secured with certain property or whether to make the loan unsecured.
The maximum amount of interest chargeable on a loan in Massachusetts is 20% per annum. M.G.L.A. 271 § 49