Hi Shaddy,
First of all, you don't have to take any action until they get back to you, so you can wait and see if you get accepted to other places with funding (assuming you are waiting for more answers).
Personally, in your place, if this was the only place I got accepted to, then I may consider going anyway, hoping to get funding in the second year. I guess that depends on the ranking of the institution and the department (for example, I would probably be willing to take a loan for the first year in Stanford...)
It also depends on your area of study, and how long it would take you to repay such a loan.
What is your field, by the way?