The borrower issues a note payable to a creditor.

Note Payable

A written promise to pay a certain amount of money at a future date, often including interest.

Borrower

An individual or entity that takes out a loan from another entity or individual under the agreement to repay the amount borrowed, typically with interest.

Creditor

An individual, company, or institution that lends money or extends credit to another party, expecting to be repaid in the future.