A single-payment note is a secured fund which can be obtained from a commercial bank when a borrower needs additional funds for a short period.

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A single-payment note is actually an unsecured type of promissory note that is used to borrow money for a short period of time. It requires the borrower to repay the principal amount in full plus any applicable interest at the end of the loan term. It is not necessarily obtained from a commercial bank, it can also be from a private lender or an individual.

A Single-Payment Note Is a Secured Fund Which Can Be