A Promissory Note is a legal document that details a loan agreement between two parties. It contains the loan amount, interest rate, and payment schedule as agreed upon by both parties. The Promissory Note also outlines any additional fees or conditions related to the loan. When signing a Promissory Note, both parties agree to its terms – making it a binding contract. This document serves as an assurance that the debt will be repaid according to the outlined terms. With a Promissory Note, businesses can confidently invest in their future without the risk of default.