Some small businesses live and die by debt financing because they don't want to give up any control to outside investors. There are many types of equity financing available for small businesses where the business owner has to give up only minimal control and in return, may get invaluable advice from other business experts. Some angel investors want only minimal control of your company and really offer excellent small business advice. You can even give a small piece of your business to a family member or a friend, and perhaps buy it back later, in return for some financing.
If you are struggling to find financing for your small business, take a look at Types of Equity Financing for Small Business for some ideas on financing that is reasonable for you.