Exceprt not displaying

According to your question:

What is the main reason of loop?

the clearest answer comes from official documentation:

The Loop is PHP code used by WordPress to display posts. Using The
Loop, WordPress processes each post to be displayed on the current
page, and formats it according to how it matches specified criteria
within The Loop tags. Any HTML or PHP code in the Loop will be
processed on each post.

When WordPress documentation says “This tag must be within The Loop”,
such as for specific Template Tag or plugins, the tag will be repeated
for each post.

It’s correct put within the loop the_excerpt() template tag.

For example a loop code it might looks like:

<?php if( have_posts() ) : while( have_posts() ) : the_post(); ?>
  <p><?php the_excerpt(); ?></p>
<?php endwhile; else: ?>
  <p>No posts were found</p>
<?php endif; ?>

To help you with your issue, it could be a good idea posting the whole code