The Charlotte Mecklenburg Black Chamber of Commerce is developing a plan that could see the organization making microloans to local entrepreneurs.

The project is still in its infancy, but directors have appointed a committee to work out specifics, Veronica Giles, the CMBCC’s executive director, told Qcitymetro.com.

To raise seed capital, the chamber has planned a series of fall fund-raisers, including an inaugural golf tournament and black-tie gala.

Giles declined to speculate about the size of potential loans or a potential start date.

She said the chamber hopes to raise at least $10,000 in loan money this year.

“We want to help businesses,” she said, “and a lot of them have capital issue. We just want to start. This is our beginning.”

Microloans are a concept that has gained traction in recent decades, especially in developing countries, as well as in some low-income communities in the United States. The loans – ranging in size from a few hundred dollars to a few thousand dollars – typically are made to individuals looking to start or expand a small business when bank loans are unavailable. Interest earned on the loans is used to make more loans.

The chamber’s inaugural golf tournament is scheduled for Saturday, Oct. 15, at Olde Sycamore Golf Plantation. Online registration is now open. The cost is $100 for CMBCC members and $125 for non-members.

Chamber officials said they hope the tournament will become a signature event.

Leading up to the tournament, the chamber will host a casino night and silent auction on Friday, Oct. 14, at Whitehead Manor on Sardis Road. Tickets may be purchased through CMBCC’s web site at www.cmbcc.org. The price is $60 per person through September 23 and $80 per person thereafter.

The black-tie gala is scheduled for Nov. 19.

To further raise funds, the chamber also has announced a series of networking events in August and September. Giles said officials representing the Democratic National Convention are expected to attend to network with chamber members and local business owners.

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