๐๐ I once read a story where the groom took a huge loan for his wedding from his workplace. His wife left him a couple of months later and baba was still paying the loan he took 6 months after she left him.
I think the worst reason anyone can take a loan is for a wedding. You could literally go to court just the two of you and a few friends and make it official. No need for any extra party.
Can you imagine.. The woman even still left him. Foolishness in the highest order. I'm not against taking of loans but not for marriages.
Like you rightly said, a small wedding won't hurt anyone. Do a court marriage and you are already married