When you are a small business owner, choosing the right financial institution to handle financing for starting or expanding your company is one of the most important decisions you can make. In general, you have three options- local or community banks, national banks, or credit unions. Each one offers a similar array of services and loans, which makes picking the right one even more difficult. The differences between the three types are primarily related to the types of customers they work with, the amount of individual service that is available, the way they make decisions about loans, and the goals and charter of the institution.