who is the creditors of company
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Simply put, a creditor is an individual, business or any other entity that is owed money because they have provided a service or good, or loaned money to another entity. As a business owner, there are two types of creditors you're likely to be dealing with on a regular basis - (i) loans and (ii) trade creditors.
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.
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Creditors may be suppliers or people who have provided credit to an individual or company. When somebody takes out a loan with a bank, the creditor is the bank, and the borrower is the debtor. A company's employees may be creditors when the firm owes them wages and bonuses, as are governments (owed taxes).
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