How to Draft a Promissory Note for a Private Business Loan in California (Interest, Late Fees, and Default Clauses)
In California, a promissory note for a private business loan should clearly state the principal, interest method, payment schedule, and enforceable default remedies. Even a “simple” note can trigger California usury limits, late-charge restrictions, and commercial reasonableness requirements if collateral is involved. This article explains how to draft interest, late-fee, and default clauses that fit […]