When you are looking to borrow money, do you want to go with the company that approved $50000 loans last year or $20000 loans? That could depend on many things, so you need to stop and think about this. Do they handle only certain types, as in mortgages, or are they open to any kind? Do they only work with businesses or are they open to anyone? Do they handle bad credit as well as good, and do they offer unsecured as well as secured loans? Also, what is their rate of default?
Once you know these basics, then you should take a good look at your credit rating, what you need the money for, and if it will be secured or unsecured. Of course, if you are looking for a loan to buy a house, and you have a significant down payment with A-1 credit, as long as the approved value of the house is as much or more than you are paying, you should have no problem as long as your income proves you can afford it. The real problem would be trying to borrow $50,000.00 without security, a bad credit rating, and no income, or not enough to look like you can pay it back. Then you may have to go to a lender who can get creative. This, however, can get you into even more trouble, so you need to be careful.
A lot of people, though, are able to do just that, although maybe not for $50,000.00. When someone has had a lot of small bills that they are unable to keep up with, they get a consolidation loan, which pays off these bills so that they only have one payment left. Of course, lenders will consider what type of bills they are, and how you accrued them. Medical bills are one of the most popular bills with the lenders.
When you are looking to borrow money, a bank is usually safer than a lot of finance companies, but there are also very legitimate finance companies. If you are turned down, really look at the reason, maybe you cannot afford this payment and should try to get by without the money.