For the lending, there will often be a collateral, for a company it will often be shares. That limits the leverage to 50% since a default will make the bank an

For the lending, there will often be a collateral, for a company it will often be shares. That limits the leverage to 50% since a default will make the bank an investor and external investors can't have control. The collateral will not always be shares, sometimes it could be the acquired physical good, then it's accessible to coops (too bad if you want to borrow for service or immaterial goods). Using real estate or company planes as a collateral suggests that you already got a credit to acquire them in the first place.