even though this is an unsecured note, there still needs to be repercussions if the borrower misses a payment or fails to comply with the terms in any way. it’s important to be sure before signing an unsecured promissory note that the lender is willing to take the risk and that the borrower is capable of paying back the loan. the name and mailing address of the borrower must be submitted to the first section. the day when the lender is to deliver the loan amount to the borrower must be reported in statement (c). if “a lump sum” repayment of the loan will be required of the borrower, then indicate this by placing a mark in the first checkbox of section three.