Join the Durham Chamber and the Durham business community as we hear from SBA District Director Thomas A. Stith, III.

Small businesses employ more than 1.6 million North Carolinians, according to 2018 data from the US Small Business Administration (SBA). Small firms, which account for more than 44 percent of the state’s total employment, have been on the front lines of the COVID-19 crisis, suffering dramatic and unanticipated declines in sales and revenue, laying off staff and, in many cases, closing their doors completely. But assistance is on the way from the SBA. Under the recent Coronavirus Aid, Relief and Economic Security (“CARES”) Act passed by Congress and signed by President Trump, the SBA has been allocated $350 billion for the Paycheck Protection Program (PPP), loans designed to provide a direct incentive for small businesses to keep workers on the payroll.

Thomas A. Stith III was named District Director in September 2019.  As District Director, Thomas oversees an office that drives economic development by assisting local entrepreneurs start and grow businesses.  He also directs the implementation of SBA programs related to accessing capital, business advising, and government contracts.

Thomas comes to the SBA from The Michael Thomas Group, a consulting firm he co-founded to advise clients seeking business development opportunities in the public and private sectors.  He worked with clients to improve their understanding of and ability to perform marketing, government relations, strategic planning, and internal assessment functions. 

Thomas also recently served with Rivermont Capital, where he was a senior advisor in the areas of investment, development opportunities, and investor relations. Immediately prior, he was the president of a state-of-the-art toxicology lab and health care consulting function at LJP Lab.  In this position he had corporate responsibility for profit/loss, strategic planning, market development, operations, human resources, and state/federal relationships.

Thomas also served as Chief of Staff to Governor Pat McCrory from 2013 to 2017 and a City of Durham councilman from 1999 to 2007.

A native of Durham, North Carolina, Stith is a graduate of North Carolina Central University earning a master’s and bachelor’s degree in Business Administration.