Owning a Business & Getting a Loan - Loopholes? Make Business a Trust? (credit, pay)

[NHtoFL]

Being a business owner and trying to get credit lately has been tough. Not a good year reported 2 years ago so any attempt to get credit ( car, home, etc ) can happen, but usually at a higher rate or denied. Often I am asked for 2 years fo tax returns for any kind of credit/loan

I was wondering if there is a way around this? Is there a way for me to put my business as a TRUST of some kind so I dont own it, but I just collect a pay check. Now, I am an employee and the loan process is much easier. Certaintly I dont want to lie/ cheat the system, but what can be done?

My wife works full time, but I am not sure that putting the business in her name is the answer as that would off set her attempts for any credit.

How do you tackle this hurdle?

Thanks!

[chet everett]

You might look at changing the structure of your business. There are valid reasons to structure the business as an LLC or S Corporation, either of which could issue you a valid W-2.

You can't get around providing two years of tax returns for any kind of documented loan these days...