How a Consumer Hired a Lawyer to Draft a Master Promissory Note in Illinois

In 2025, a personal client in Illinois sought assistance with drafting a master promissory note to formalize a simple loan among friends. The loan, amounting to $250,000, was meant to support the construction of a home, and the client wanted to ensure the terms were clearly documented despite the absence of interest and the flexibility in repayment. The goal was to establish an official record of the agreement that outlined the indefinite term and zero percent interest rate. As a result, the client received nine proposals from licensed lawyers, with flat fee bids ranging from $249 to $999, all submitted to fulfill the project within the requested deadline of less than a week.