DOWNLOAD this Vermont Promissory Note Form in order to document a lending agreement between two parties in Vermont. The form allows the parties to determine whether or not the money lent will be secured by property or collateral. It also allows the parties to contract for the length of the loan and whether the loan will be paid in equal paymnets or in one large payment at the end of the loan term. In addition, within the parameters of Vermont law, the parties can decide what interest rate will be charged for the borrowing of funds.
The legal rate of interest in Vermont is 12% with some exceptions. 9 V.S.A. § 41a