what is the difference between a secured and unsecured promissory note
The difference between an unsecured and a secured promissory note is that a secured note is guaranteed by a certain asset, such as a home or vehicle, whereas an unsecured note does not have any collateral associated with it.Nearly all different types of loans will have a promissory note attached.n unsecured promissory note indicates a borrower's intention to repay a loan to the lender as detailed in the promissory note itself.