Sample Business I Owe You (IOU) Note
An IOU (short for I Owe You) is a form recording an agreement between a lender and borrower. Usually used between friends, family and acquaintances, the IOU typically indicates:
Date of funds being borrowed
- Amount borrowed
- Name of the borrower
- Name of the lender
- Date when the money will be paid back
- Interest amount
- Penalties if the money isn’t repaid on time
The borrower will sign the IOU form indicating they did in fact borrow the funds and will repay on the date agreed to. Two forms should be printed and signed so both the borrower and lender have an original copy.
Should it be necessary, the IOU will stand up in court should legal action be needed.
Download the free IOU forms below in Word and PDF.Sample Business I Owe You (IOU) Note (PDF) Sample Business I Owe You (IOU) Note (WORD)