In its U.S. Local Media Annual Forecast (2009-2014), BIA/Kelsey forecasts the U.S. local advertising market to reach $144.9 billion in 2014, representing a modest compound annual growth rate of 2.2 percent from 2009. A closer look at the forecast period reveals, following a significant contraction in 2009, local media spending is expected to be slow through 2011, with meaningful recovery beginning in 2012.

Indeed, a steady shift toward digital media continues. BIA/Kelsey forecasts spending on traditional media to decline from $115 billion in 2009 to $108.2 billion in 2014 (CAGR of -1.2 percent). During the same period, spending on online/interactive media is projected to grow from $15.2 billion to $36.7 billion (CAGR of 19.3 percent).

BIA/Kelsey reports among the key drivers of this year’s forecast are:

* Larger than previously forecast declines in newspapers and direct mail

* Slowing growth of the interactive/online sector, including search, display and classifieds

* A further ramp-up in political advertising, due to the recent U.S. Supreme Court decision, which will benefit the traditional television and radio sectors, as well as the interactive and direct mail sectors

More Than Half of All Ad Spending Is ‘Local’

The forecast reveals 55 percent of all ad spending is with local media, defined in this forecast as spending by small and medium-sized businesses and national advertisers or regional advertisers making local buys. In 2009 total U.S. ad spending was $235.6 billion (based on BIA/Kelsey’s estimate of the local segment and estimates by several market forecasters focused on national spending). Of that, BIA/Kelsey estimates $130.2 billion was spent on local ad buys, with $105.4 billion attributed to national advertising.

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The reason a Credit Card debt relief company can help a get an Credit Card debt consolidation loan quickly is because they will take your credit score into consideration and thus offer a loan plan which will suit your needs. What these companies actually do is they cater precisely to the needs of various borrowers. This allows for even a bad credit score borrower to apply for an Credit Card debt consolidation loan provided that the company finds them suitable.

When searching for a good Credit Card debt consolidation company its imperative that you take your time to do proper research. Don't fall for half truths and scams. Find out the market loan rate and proceed accordingly. A reputed Credit Card debt consolidation company has nothing to hide so everything right down to their processing fees will easily be found on their website or they might be a call away.

Lloyds TSB has changed the way it prices loans. Rather than advertising a rate which is offered to the majority of successful applicants, it has moved to a personal pricing strategy.
What is personal pricing?

Personal pricing means would-be borrowers will no longer be able to see the typical rate being offered by the bank - they'll have to apply to find out what kind of deal they'll be given.

Those with good credit histories will be offered the most competitive rates. But if the bank thinks there's a risk you could default on your repayments, you'll be charged a higher rate of interest.

This isn't unusual. Lenders always run a credit check when assessing a loan, credit card or mortgage application. However, most advertise a 'typical' rate - this must be offered to at least 66% of successful applicants, which at least gives you some idea of how much the loan will cost you before you apply.

However, by moving to personal pricing, Lloyds TSB will stop advertising a typical rate. Borrowers (who must also be existing customers) will have to apply in order to see what kind of deal they'll be offered. And every time a credit check is made on you, a mark is left on your credit file.

Multiple credit applications can have a negative impact on your credit score, making it harder for you to shop around for the best deal. You can read more about that and the committee's concerns in our article 'Pressure mounts for fairer credit applications'.

Without even a typical rate to guide borrowers, Lloyds TSB's latest move may make it even harder for customers to find the best deal.

Tim Moss, moneysupermarket.com's head of loans, is worried about the effects this could have on the market.

"This is going to mean many borrowers end up blindly applying for a loan. Lots of people prefer to apply for a loan through their current account provider because they trust whoever they bank with to give them the best deal.

"Lloyds TSB may well be offering some customers the best loans rate but they won't be able to check that before they apply. I can't help but think this is a real step back for consumers and the loans industry."
Silver lining

It's not all bad news for those looking for a loan. Nationwide has just unveiled its new market-leading personal loan with a typical annual percentage rate (APR) of just 7.6%.

However, there is a catch. In order to qualify for Nationwide's market-leading deal you have to have a current account with the building society.

As mentioned above, Lloyds TSB's loans are also only available to current account customers and we're seeing an increasing number of providers adopt this approach. The reason for it is that they have an existing relationship with these people so can make a better-informed lending decision as the bank or building society already knows how they manage their accounts.

So what are the other options?

There are still some competitive deals out there that don't require you to have an existing relationship with the lender.

For example, if you have a really excellent credit score then Alliance & Leicester is offering a typical APR of 7.8% on loans between £7,500 and £14,950. Sainsbury's are offering a rate of 7.9% on loans above £7,500, but you must have a Nectar card to be eligible. However, they're free and can be applied for online.

Tesco is also offering a competitive rate on loans between £7,500 and £15,000 of 8.4%. Again though, you'll need an excellent credit score to qualify.

Could a credit card be better?

Of course, depending on the amount you would like to borrow, a credit card might be the better bet. There's greater flexibility when it comes to repayment and there are even some introductory interest-free deals.

However, as part of the fall-out of the credit crunch, many providers have reduced the amount they're prepared to lend on credit cards. If you have a good credit history anything up to £3,000 should be ok. But if you are looking to borrow more than that, don't bank on a credit card as you may not be offered a high enough credit limit.

"We haven't just gone through a business cycle, we've also gone through a major restructuring of the American economy," says Ken Goldstein, a labor economist at the Conference Board. "The workout from all of this will be very long and very slow. This is an awful lot to adjust to."

This was reinforced Friday when the government reported that US employers unexpectedly cut 85,000 jobs in December, cooling optimism on the labor market's recovery.

Retail Connection

"In the new cycle, there's a limit to how much companies can sell and make and therefore how many employees they can bring on," adds Goldstein. "If the American consumer becomes a bit of a American saver, that bad news for some retailers, as well as some other folks."

That's already been the case, during 2008, when consumer spending contracted for two consecutive quarters for the first time in decades. Spending has rebounded somewhat, but it has been erratic, and certainly not reassuring for producers.

"We should not look for the retail sector to be a contributor to the jobs recovery as it was in other recoveries, "says Richard Hastings, who follows retail and real estate for Global Hunter Securities. The sector has matured. There are very high barriers to entry. You're not going to get a fast-growing new retailer that would help create jobs."

Hastings says job growth will also be dampened by narrower margins and enhanced productivity, thanks to technological improvements, affecting inventories, shipping and distribution."

Retail's contribution will be sorely missed. Between 2000 and 2007, the economy added 4.4 million retail jobs. Current employment in the sector-14.6 million-is back to its level of 1998.

The job boom of recent years may hardly be coincidental. Retail and housing enjoyed something of a symbiotic relation during the credit boom.

"The structural changes are very important. Retail was an indirect source of jobs for real estate for years," as national big-box store chains, and shopping centers sprouted up to serve new housing developments with hungry consumers. "When residential real estate story came to a crashing conclusion in 2006, that put an end to retailing growth story, as well."

Hastings also points to an interesting symbiotic relationship between housing and retail during the boom-bubble period.

"The structural changes are very important. Retail was an indirect source of jobs for real estate for years," as national big-box store chains, and shopping centers sprouted up to serve new housing developments with hungry consumers. "When residential real estate story came to a crashing conclusion in 2006, that put an end to retailing growth story, as well."

"Some of those shopping centers in the high-growth markets of Arizona and California, where they were expecting the house tops to grow out to them, were stranded at it never happened, "adds Brinkman.

Big Three, Small Business

The new world order of borrowing and spending will also continue to affect the auto industry. U.S. auto plant employment, which dipped below 100,000 in 2009, won't be a growth spot. Even at its current level of 112,000, it is half of what it was after the recession of 2001.

General Motors' new plant to build lithium ion batteries for green cars, which received Energy Dept. funding, will employ only about 100 people.

The days of producing more than 18 million vehicles-as was the case not too many years ago -are long gone.

"It's also a major fundamental change," says Goldstein. "Who's going to provide the financing for [car] deals. People will get pushed back down to the used-car market."

The credit-retail-housing triangle is also a major consideration for small business, a tradition job-creation engine.

"Absolutely," says Martin Regalia, chief economist at the U.S. Chamber of Commerce. "Is it really a new norm? It is certainly a situation where we are not going to see the wealth gains driving a high rate of expenditures. It is certainly not going to be the profligate spending we say years ago."

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Regalia say that during extensive travel ahead of the holidays, he found members had adopted "a survival attitude."

"Many have laid off individuals or cut them back," says Regalia. "If things improved, they might be able to add hours or rehire. In terms of ret new job creation, I didn't hear much of that and none of them are talking about doing so on the expectation of [better times]."

Such pessimism is to be understood after a brutal recession and the somewhat jobless recoveries that followed the relatively shallow recessions of 2001 and 1990-1991.

Other economist say deep recessions-such as the one in the 1980s-bring strong recoveries and thus expect similar conditions this time.

"The primary structural problems I hear most frequently, they think there's a new norm of housing, those jobs are gone permanently, I kind of doubt that myself," says Chris Rupkey of Bank of Tokyo-Mitsubishi. "Structural changes play out over a decade. I'm a little skeptical about a jobless recovery."

"It's a hangover more than anything," says Erin Armendinger, managing director of the Jay H. Baker Retailing Initiative, Wharton School. "Consumers will go to spending Retailers will go back to opening stores. We will find a way to give and get credit again."

Role of Government

The Obama administration is trying to help that process for both business and consumers, by providing TARP money for small- and medium-sized businesses and buyer incentives on durable goods from autos to energy-saving devices.

The government is also intent on funding private sector job creation, which may underscore concerns about structural obstacles to a jobs recovery as much as social policy.

Some of the nation's biggest unions have been working closely with the administration on job creation measures and are pushing for yet more.

Not only is there a firm belief that government needs to fill a void until the private sector recovers and contributes in a meaningful way but a new strategy is needed.

Unions say ever-increasing productivity is hurting job creation and a new focus is needed on the withering and neglected manufacturing sector, as well as a move away from low-skill, low-pay jobs.

"If nothing is done we have a pretty bleak prospect," says AFL-CIO economist Thea Lee. "We're in a deep hole in the labor market."

The AFL-CIO, like others, is pushing for massive investment in infrastructure and green technology.

Education and health care are often cited as areas of potential growth, which will help the services sector, which looks threatened for the first time.

"The service sector can't grow if the other sectors can't grow," says Anna Burger, secretary-treasurer of Service Employees International Union, SEIU, which counts 2.2 million members and is the fastest growing union in the U.S.

The SEIU, whose ranks also include government workers, would also like to see fiscal relief for cities and states, including the replacement of public jobs that were lost and the creation of new ones, in such areas as child and home care.

"We can create more public jobs at a faster rate," says Burger. "Unless we invest in jobs, the process will be slow."

Few these days would see to argue with that time frame. Even Nobel Laureate and legendary supply-side economist Martin Feldtsein is wont to say that it will take years to replace the jobs that have been lost.

In advance of the storm, analysts predicted that those retailers with a "best in class" online presence would be the winners. Bargain hunters are also increasingly turning to online outlets, which, in many cases, offer additional coupons and in-store pickup options.

Electronics and computers were stand out performers this holiday season, growing 15% compared with a year ago, according to ComScore. Only jewelry and watches, which saw a steep decline last holiday season, showed stronger growth, with sales increasing 20% this year.

Small business credit cards are like spouses, you can’t live with them, and you can’t live without them. If you’re a small business owner, how do you take advantage of the benefits of credit cards while taking steps to avoid their pitfalls? Here are nine tips to using business credit cards in a tight economy.

1. Keep that credit score high. This is a no-brainer. Unless your business already has a long established credit history, card issuers will use your personal credit score when evaluating your credit card application. To get a business card with the best terms, you need to keep your credit score as high as possible.

2. Use a bank with which you have an established relationship. Banks with which you already do business will be more open to issuing you a credit card. Many small, local banks and credit unions issue credit cards, and establishing a personal relationship with these can be a great way to get a low interest credit card. If your current bank doesn’t issue a credit card, open an account with one that does.

3. Keep different cards for different purposes. Use cards with a low interest balance transfer APR for credit card debt you carry forward. Use a different card for purchases which you pay off every month.

4. Go with the best deal. The best deal isn’t always on a small business credit card. Generally speaking, you are personally liable for all credit card debt, whether or not it’s on a credit card in your name or in the name of your business. So if you can get a better deal on a personal low interest credit card, opt for that.

5. Don’t use credit cards to put out fires. Incorporate credit cards into your overall financial planning. Know how much you can put on in purchases each month and still pay off in full. If you decide to take on credit card debt, project how much you can take on and still pay off before the low interest expires.

6. Know the difference between good debt and bad credit card debt. Make a conscious decision about the debt you take on. Credit card debt that tides the business over while waiting for accounts receivables is perfectly acceptable debt. So is debt that helps increase business income, such as a short term bridge loan for purchasing new equipment. Mounting credit card debt that essentially only fills in gaps between income and expenses is bad debt.

7. Have some form of back-up in place. Don’t risk getting trapped by changing credit card terms. Have a plan in place should your minimum payment double, interest rate increase, or credit limit get cut. Have one or several unused credit cards available as back-up, or in a bind, explore other financing alternatives, such as account receivable financing.

8. Manage your business credit wisely. A basic rule of thumb for all business owners is to keep personal expenses separate from business expenses, and this applies to small business credit cards as well. Not only does this keep your accounting more clean for tax purposes, it also allows you to use the extra services that come with business credit cards to help you track your monthly business expenses and employee expenditures.

9. Keep in touch with your card issuer. If you plan to make a big balance transfer, which will bring your card close to the credit limit, call your card issuer and let them know what you’re doing, why you’re taking out the balance transfer, and when you plan to have it paid off by. Otherwise, the high balance could create a red flag to card issuers that your business might not be going so well. This might in turn cause them to raise the minimum required payment, lower your credit limit, or even raise the interest rate on the card.

We logged up to 4,000 phone calls per month from people asking about businesses, filing complaints and telling us about scams. The people answering the phones tally the dollar value of those scams. The BBB staff helped people in southern Idaho keep up to $250,000 a month in their collective pockets and out of the scammers' money-grubbing hands.

'FREE' TRIAL OFFERS - Ads for trial offers for teeth whiteners, acai anti-aging pills and other miracle potions are all over the Internet. The free trial actually costs hundreds of dollars month after month.

STIMULUS/GOVERNMENT GRANT SCAMS - Even before Congress passed the economic stimulus plan in February, scammers had set up schemes to mislead consumers and small business owners into thinking they could get a piece of the pie.

LOTTERY/SWEEPSTAKES SCAM - A victim receives a letter in the mail pretending to be from Reader's Digest, Publisher's Clearing House or a phony foreign lottery. The letter says the victim has won millions. The letter comes with a check that represents a portion of the total winnings. To get the rest, the victim has to deposit the check and wire hundreds of dollars back to the scammers, supposedly to cover taxes or some other bogus fee. The victim wires the money, but the prize never arrives. One man in Boise lost $4,000 to this scam this month.

JOB HUNTER SCAMS - The thieves are targeting the unemployed to steal identities through fake job applications that ask for too much information or claim to require a credit check before you can be considered for a job.

MORTGAGE FORECLOSURE RESCUE/DEBT ASSISTANCE - Hucksters are offering to help you save your house from foreclosure or get out of credit card debt. Unfortunately, victims pay hundreds of dollars up front for assistance they desperately need but never receive.

MYSTERY SHOPPING - Consumers across the country thought that they could make some extra money by becoming secret shoppers. Victims are asked to evaluate their shopping experiences at a few stores as well as a money-wiring service such as Western Union or MoneyGram by wiring money back to the scammers. A seemingly real-looking check is supposed to cover the costs, but ends up being a fake. The victim is out thousands of dollars.

OVER-PAYMENT SCAMS - We hear from small businesses every week that someone is trying to place a large order, overpay with a check or credit card (both are frauds), and have the business wire the excess to a third-party shipper. The bogus shipper is part of the scam.

Be resolute in 2010 to protect your identity. Never wire money to someone you don't know. Research the seller through the BBB before you buy. And have a happy new year!

However, in November, Hebert learned that the cards had one big downside: Capital One was reporting the accounts on his personal credit report. Listing his business' debt alongside and in the same manner as his personal debt gave the impression to anyone who checked his credit that he was overextended, Hebert says.

Capital One spokesman Steve Schooff says reporting the accounts to both the consumer and commercial credit bureaus is "standard industry practice."

When a highly-utilized business credit card appears on a person's individual report, the negative effect could snowball quickly. For example, the addition of $20,000 of business debt to the $20,000 Hebert already owed on his personal credit cards led Bank of America to close one of his personal credit cards and cut the limit of another, from $35,000 to $9,900, just $200 above his balance. As a result, Hebert's credit score, once in the high 700s, fell to the low 700s.

"What really gets me is that if I wanted to apply for a loan, I'd have to list my income – I can't list the company's entire gross revenues," Hebert says. "Yet the creditors will look at all the debt my business has, even if the company pays those credit cards."

Bank of America declined to comment on an individual case. Company spokeswoman Betty Reiss said the company monitors accounts for risk and may make adjustments accordingly.

Capital One is the first large issuer to start reporting business credit-card accounts that are in good standing to the consumer credit-reporting bureaus. And even if small business owners deem the practice unfair, it is legal. Issuers can report business credit-card usage to consumer credit reports as long as they have the business owner's authorization to check their personal credit, says Gene Truono, a managing director with the consumer regulatory compliance banking practice at BDO Consulting. Typically, consumers grant that authorization when they apply for the card.

Business credit cards can be a valuable cash-management tool for small business owners. They tend to have more generous credit lines and their rates are slightly lower than those associated with consumer credit cards, says Truono. But they have drawbacks that, once the CARD Act comes into effect February 22, 2010, will only get stronger. Here's what small business owners should know before they sign up.

1. Personal liability - Most – if not all – business credit cards include a personal liability waiver in their terms and conditions. By opening and using the card, you agree that, if the account becomes delinquent, the issuer can come after your personal assets for the balance. That includes any charges made by any business employees you designate as authorized users of the card.

2. CARD Act immunity - The CARD Act does not apply to credit cards used for business purposes, says Truono. Although card issuers may elect to apply the same rules to their consumer and business-card portfolios to keep their operating costs low, that move will be a voluntary decision. So, as of Feb. 22, 2010, issuers will not be allowed to hike interest rates for existing balances on consumer credit cards, but they will still be able to do that with the credit cards issued to and used by businesses.

3. A hit to your personal credit - Although most issuers do not report business credit cards to the consumer credit reporting agencies right now, they do report the accounts if they become delinquent. If times get tough for the business and the owner can't make a card payment, they have to dig into their personal savings in order to keep the account current – or risk a hit to their personal credit.

Today, less than 20 percent of orders come in via telephone. In an effort to capitalize on the sales potential of the Internet, 1-800-Flowers reinvented itself as 1-800-Flowers.com

While 1-800-Flowers.com has offered gift baskets in the past, the company has now redesigned its website to brand 1-800-Baskets.com as a separate entity, and it is launching ads that highlight non-floral offerings. Rather than focus on holidays, future promotional campaigns will encourage gift giving for all occasions.

1-800-Flowers.com has also jumped on the interactive bandwagon. The company created a Facebook application for people to send "mystery gifts" to friends, a website called "YourDancingChocolate.com," for customers to create customized videos about chocolate gifts, and even an iPhone application.

The primary reason for this diversification, of course, is a desire to broaden the company's business model. 1-800-Flowers.com had its first ever revenue decline in 2009 and wants to insulate itself from future economic downturns.

More about: 1-800-Flowers, 1-800-Flowers.com, 1-800-Baskets.com, FTC, Facebook, iPhone

Bondon helps run Chocolate Graphics, a five-person, minority-owned franchise company in Silver Spring that sells pieces of chocolate with personalized logos and images embossed on them. He is looking to hire new staff to handle shipping and customer service and ramp up efforts to sell products online.

To expand operations, Bondon is considering seeking a business loan and thinks his company is an "ideal candidate." But with a widespread credit crunch making loans in short supply, he has to think for a moment when asked if he expects to be approved.

"That's a good question," Bondon eventually said.

At the launch of Gov. Martin O'Malley's MBE University initiative Tuesday, Bondon joined other minority and women business owners, as well as members of the O'Malley administration, to express frustration at their inability to secure loans. Officials and business leaders say these businesses already face a variety of challenges, and the lack of loans inhibits their ability to grow.

Business owners argued that in spite of promises to open up lending, banks have enacted stricter policies and tightened purse strings. This lack of access is widespread — during a roundtable discussion with small-business leaders, O'Malley (D) asked whether companies were able to get any credit.

The answer was a seemingly unanimous chorus of "no" from around the room.

Bank loans are vital for minority and women business owners to grow and, for many, represent the only option for funding, said Luwanda Jenkins, special secretary of the Governor's Office of Minority Affairs.

Jenkins acknowledged that the loan problems facing minority and women business owners are shared by the entire small-business community. Yet, because these entrepreneurs often do not have the connections and other resources necessary to launch a successful business, Jenkins said, they are at a disadvantage.

"People do business with people they know, and so breaking through sometimes is a challenge," Jenkins said. "So I think that women-owned firms and minority-owned firms are, to a large extent, playing catch up."

Minority and women business owners are also often hampered by what Dawn Jackson calls the "college student syndrome." Jackson, a small-business owner and president of the Women Business Owners of Prince George's County, said that just as college students cannot find a job without experience — and cannot get experience without a job — these business owners are caught between not qualifying for loans but needing funding to grow and be more attractive to lenders.

"How can I get business if I don't have the capital behind me?" Jackson said. "It's cyclical."

To address these issues and the entire small-business credit crunch, the O'Malley administration has begun working with banks and members of Congress to find ways to loosen the tap and let the funding flow.

"When it came to [the federal stimulus package], they had a term ‘shovel-ready,'" O'Malley said. "They shouldn't give any of these banks any more money unless they're deal-ready."

O'Malley said the problem must be resolved at the federal level. In particular, he argued that Congress should clarify financial regulations and reinvest some money from the Troubled Asset Relief Program into banks that are actually lending.

Whatever the fix may be, O'Malley said, he believes action must be taken.

"We've got to figure this out, because a lot of small businesses and family-owned businesses are dying on the vine as we wait for credit markets to rebound," he said.

Jobs - November 2009 Unemployment Report

As a precaution, all water used for drinking, cooking, making ice, brushing teeth, or washing dishes should be boiled at a rolling boil for one minute, or as an alternative, bottled water may be used. This precautionary boil water notice will remain in effect until bacteriological test shows that the water is safe to drink. Test results will take approximately 72 hours. Call 533-8575 after 4:30 p.m. Dec. 10, and each day thereafter as needed to get the current status of the boil water notice. Source: Board of County Commissioners

The $500 million will be originated through CIT's small business lending group to fund government guaranteed loans as part of two small-business lending programs, the SBA 7(a) and 504 programs.

The $1,000 fee will be waived on all applications for 7(a) loans beginning Monday and running through March 10.

CIT, based in New York, was forced into bankruptcy on Nov. 1 after failing to raise cash to pay off outstanding debt. It was also hurt by mounting loan losses as more customers fell behind on repaying loans amid the recession.

By originating government-guaranteed loans like the SBA loans, CIT is protected against losses should the customers fail to repay their debt.

Chase, best known as the nation’s largest general-purpose credit card issuer currently has $29 billion in outstanding balances in the form of loans, lines and credit card balances to small businesses.

Reports from Federal Reserve officials in recent weeks show a still tightening commercial lending sector, triggered in large part by failing or close-to-failing commercial real estate loans.

In a carefully-timed press release, Chase presented its case to shareholders and the public.

“Last month, the bank announced plans to increase lending to small businesses by up to $4 billion in 2010, boosting expected new lending to about $10 billion next year to this vital segment of the U.S. economy,” Chase announced.

“This is simply what a bank should do,” Dimon said.

Chase also said it is hiring 325 additional small business bankers to work nationwide supporting all of its small business lending efforts. The bank said it is adding to the 1,900 bankers who “currently support the less than $10 million segment.” The bank also added about 100 middle market bankers to support lending to mid-sized companies.

In November, the bank said it began offering a second look on all previous loan applications from small businesses “to ensure the bank has examined all possible ways to provide the credit.”

Chase has assets of $2 trillion and operations in more than 60 countries.

Meanwhile, “it’s next to impossible to get funding for a startup business right now,” she said. “Without the availability of startup money, it’s definitely going to put a limit on the rate on which the economy can grow.”

In the last six months, banks have begun to loosen what had been very stringent lending requirements, said Jim Kocsi, director of the New Jersey district office of the U.S. Small Business Administration, in Newark. SBA lending was up in the last six months of the agency’s fiscal year, which closed in September, he said, “but it is still a challenging environment.”

Women secured a slightly smaller percentage of SBA-backed loans this year compared to previous years, he said. In fiscal year 2009, women accounted for 261, or 23.4 percent, of the 1,117 SBA-backed loans in New Jersey, according to the agency. Women accounted for 26.2 percent and 23.6 percent of SBA loan activity in 2008 and 2007, respectively.

Lending decisions are based upon the qualifications, rather than the gender, of the business owner, Nafus said, but “the problem that occurs in our society is women do not control the wealth,” she said. “They are less likely to have all the requirements lenders are looking for.”

Despite those potential challenges, women can take advantage of various forms of financing assistance — including some specifically geared toward female entrepreneurs. The Women’s Business Center provides training and counseling services to business owners and helps them develop business plans and loan proposals, while the New Jersey Women’s Micro-Business Credit Program offers loans for low- and moderate-income women looking to start companies. Those loans range up to $5,000, with interest capped at 3 percent and a payback period of up to five years, according to the state Department of Community Affairs, which implements the program with the New Jersey Redevelopment Authority.

The SBA’s Microloan Program makes loans of up to $35,000 through four intermediary lenders in the state, Kocsi said. Those loans are not exclusively for women, but “we do see a larger amount going to women-owned businesses and minority-owned businesses,” he said.

In terms of financing from traditional banks, “a home equity line of credit is probably the easiest to get right now,” provided a business owner has enough equity in her home, Nafus said. While some women are averse to pledging their homes as collateral in a home equity line of credit, business loans also require a personal guarantee — but have a higher interest rate, she said.

An entrepreneur must meet a set of criteria to get a business loan, Nafus said, including having a viable business plan, a 30 percent deposit, experience in the industry in which she plans to open the business, personal credit and at least 100 percent collateral. Collateral is the biggest challenge, she said: “If you don’t have a house, it’s just not going to happen.”

Angel investors and venture capital firms, meanwhile, make up another source of capital, St. John said. Such investors are pulling back from private equity and hedge fund opportunities — where they had traditionally invested their money — and are “looking for something that they know is more solid and will give them a return … they can realize more quickly.”

Nafus, however, warns against “the credit-card trap,” which she called one of the more perilous forms of financing, with some women entrepreneurs staggering under $50,000 to $60,000 in credit-card debt.

“It’s an option of last resort,” Nafus said. If a business owner can’t pay the bill at the end of the month, she shouldn’t be using credit cards, she said. “If you don’t have the business to make those payments, it can be a major issue for you,” Nafus said. “That has an impact on you for the rest of your life.”

E-mail to elee@njbiz.com

Heartland Workforce and the Highlands County Human Resources Department say they are seeing former managers and experienced professionals applying for entry-level positions. The trend of underemployment, over-qualified applicants applying for jobs that are under their skill level, poses a disadvantage to those with limited skills and experience.

John Minor, county human resource director, estimates that in 2007 his department interviewed about eight applicants, on average, for a position but that number has jumped to about 25.

And they are not ruling out over-qualified applicants even though they may be swayed to take a better paying job when it comes along.

"We are considering those applicants with experience ... It certainly wouldn't hurt us," Minor said.

Applicants with limited experience, skills and education will have to work harder to stand out in their interviews.

For those experienced professionals, taking a pay cut isn't always easy.

The county had one applicant who drove up from Broward County for an interview and ended it after 10 minutes because the position didn't meet his salary expectations.

This isn't uncommon Minor said.

"When people apply for jobs they typically think of themselves as over-qualified ... and even if the job has listed specific salary expectations they think that the company will go above that figure for them," Minor said.

His department has had people who were making $70,000 applying for jobs that pay $30,000. These applicants typically fall under three categories, said Minor.

They desperately need a job, they relocated to care for an elderly parent or relative, or they are close to retirement and are seeking a less stressful lifestyle change.

Two years ago the county averaged about 15 applicants for an open position. They are now receiving about 40 applications for an opening and on jobs that require less experience and education they have received over a hundred applications.

"I wouldn't be surprised if we start receiving 200 applications," Minor said.

Competition Tough

"Recently about 72 people applied for the county's opening for a firefighter-emergency medical technician. Two years ago we would've received a third of that, at best," Minor said.

The numbers of applicants for openings are growing across the board.

For a maintenance position, Minor's department interviewed 25 people just to level the playing field between over-qualified applicants and those who met the minimum requirements.

Within the specialized field of survey party chief, many of the applicants exceeded the experience needed for the position.

Minor said many of the applicants were promoted well beyond this position in their previous jobs but not all were willing to take a pay cut.

They are also seeing more applicants applying for jobs outside of their field.

"We've had people from the construction industry apply for clerical jobs," Minor said.

Unemployment Numbers

In October, Highlands County's unemployment rate was 11.4 percent. But Hood, said, "That's not a true picture. It's much more."

The unemployment percentage counts the number of people who are registered with a state agency or receiving unemployment. If they count those who are unemployed looking for work by other means and the underemployed, the number would be much greater, he said.

In September, 4,699 people visited the One-stop Career Center for services versus 3,904 in 2008.

That's 795 more people for that month compared to a year ago.

"A dramatic change," Hood said.

Although the holiday season has sparked some openings in the retail market those jobs are not paying enough for self sufficiency.

The local living wage for self sufficiency, meaning the amount needed for a person to pay their basic needs including rent, food and utilities, is $11.85 an hour.

Most of these retail and service jobs are not coming close.

"Even though the recession is starting to rebound upward, not downward, it will be a while for jobs to catch up. How much longer would be anyone's guess," Hood said.