Meaning of the word creditor in English

What does creditor mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

creditor

US /ˈkred.ɪ.t̬ɚ/
UK /ˈkred.ɪ.tər/
"creditor" picture

Noun

a person or company to whom money is owed

Example:
The company is struggling to pay its creditors.
Banks are major creditors for many businesses.