Meaning of “general creditor” in the English Dictionary

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"general creditor" in Business English

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general creditornoun [ C ]

uk us also unsecured creditor US FINANCE

a person or organization that lends money, but does not have an agreement that allows them to take property or assets of the borrower if the loan is not paid back:

As a general creditor, you have to stand in line after creditors such as the Internal Revenue Service and the banks.
Under the bid, unsecured creditors will receive 35% of the stock of the new corporation.

(Definition of “general creditor” from the Cambridge Business English Dictionary © Cambridge University Press)