If you want to grow your company without giving away equity, venture debt might be an option worth considering, Karl Stark and Bill Stewart of Avondale write. However, such a strategy is mainly for "growing, established companies with solid revenue and profitability," they write. "It doesn't work for early-stage companies or ventures with no clear path to pay back a loan." Also, it might be a better idea to use bank loans if you are able to get them, they write.