How to Grow Your Business Without Getting a Loan [VIDEO]

Looking to grow your local business without taking on debt? You're in the right place! In this video, we'll share seven effective strategies to help expand your business without needing a loan.

From improving your offerings to leveraging social media and community events, these tips are designed to boost your business on a budget. Whether it's partnering with other local businesses, offering workshops, or optimizing expenses, you'll find actionable advice to help you succeed.

Video Transcript

When you start a small business, everyone tells you to get funding—take out a loan, finance your growth, borrow money to expand. But honestly, that can feel intimidating. I’ve always preferred a leaner method: get customers, generate cash flow, and reinvest that money back into the business to grow. For many of us, taking on debt just doesn’t feel right—and that’s okay. There are plenty of other ways to grow your business without the pressure of loans or financing.

Start by focusing on what your business does best. Make your product or service even better, improve your branding, fine-tune your customer experience—this kind of organic growth often doesn’t cost much but can make a huge impact. Also, take advantage of free or low-cost marketing by using social media. Share real stories, highlight happy customers, and post about deals or promotions to stay top of mind in your community. If you have a little budget, consider a small local Facebook ad to boost your visibility.

You can also grow through partnerships. Team up with other local businesses—maybe a bakery and a coffee shop offering a joint discount. It’s a great way to reach new customers without spending more money. Be active in your community too—attend local events, set up a booth, or just wear your branded t-shirt and show up. These grassroots efforts build recognition and relationships. And if you’re an expert at something, offer a class or workshop. It brings people in and positions you as a trusted authority.

Finally, don’t forget the power of word of mouth. Ask your happy customers for referrals and reviews. Offer a small reward or thank you for anyone who sends business your way. And while you’re at it, review your expenses—cancel unused subscriptions, shop around for better rates on supplies, and reduce waste where you can. Every bit you save is money you can reinvest into growing your business—no loan needed. Stick around for more tips on how to market and grow your business, and if you still need a website, check out Mighty Sites. It’s just $9 a month and super easy to set up!