President & CEO

Patrick J. MacKrell

Patrick J. MacKrell, President & CEO

Patrick (Pat) MacKrell is the President and Chief Executive Officer of New York Business Development Corporation (NYBDC), The 504 Company and The Excelsior Growth Fund ("Excelsior")

NYBDC, formed in 1955, is a consortium of 124 banks and 83 economic development agencies. NYBDC’s goal is to promote the business prosperity and economic welfare of the State of New York by providing loans to small businesses at all stages of maturity with a particular emphasis on start-up, early stage and minority/women owned businesses. NYBDC makes both SBA 504 loans and conventional loans. NYBDC is examined for safety and soundness by the Department of Financial Services pursuant to Article V-A of the Banking Law of the State of New York.

The 504 Company, incorporated in 1981, is a certified development corporation and is New York’s largest SBA 504 lender and consistently ranks in the top five among certified development companies nationwide. The 504 Company's mission is to promote economic development and jobs growth in New York by making SBA 504 loans for the acquisition and/or improvement of fixed assets. The 504 Company is a not-for-profit local development company that is affiliated with NYBDC by common management.
 
Excelsior was formed in 2009 as a local development company to focus on providing opportunities to promote the economic prosperity of the State of New York. Excelsior focuses on providing gap funding to facilitate access to other loan programs, construction lending for small business expansion projects and small dollar loans to start-up and early stage businesses that may not be able to access capital under traditional loan guaranty programs.
 
NYBDC and its related companies work closely with the three SBA District offices located in New York to promote the use of the SBA loan programs. More than 20% of the SBA lending in NYS (by dollar amount) consists of loans made by NYBDC or The 504 Company. 
 
Prior to joining NYBDC in 2001, Pat practiced commercial and banking law in New York representing a number of financial institutions and businesses. Pat is a veteran of the United States Marine Corps having served at a number of posts and stations prior to his release from active duty as a Major. Pat is a graduate of York College of the City University of New York and Albany Law School. He is admitted to practice law in the state and federal courts in New York State. Pat is a member of numerous boards including the York College Foundation Board, The New York State Small Business Development Center Advisory Board, the New York State Economic Development Council. Pat serves as Chairman of the Board of the National Association of Development Companies (NADCO). Pat lives in Delmar, New York with his wife Peggy and his two youngest children. His two adult children and grandsons also live in New York.
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