In finance, the term creditor denotes an entity – such as a person or financial institution – which is owed a debt by another entity (a debtor).

A creditor has the right to demand repayment of a debt by a debtor in keeping with the stipulations laid out in the loan agreement.

When you buy goods and services on credit, the merchant which provides the goods and services becomes your creditor. It remains your creditor until you pay for the goods and services provided. When you get a personal loan or business loan from a bank, the bank is the creditor and you are its debtor (until you repay the loan).

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