Patrick MacKrell, CEO of The 504 Company, Elected Chair of the National Association of Development Companies Board of Directors

(ALBANY, NY)  Patrick (Pat) MacKrell, President and CEO of The 504 Company and affiliates New York Business Development Corporation and Excelsior Growth Fund, has been elected Chair of the Board of the National Association of Development Companies (NADCO), the trade association for SBA Certified Development Companies (CDCs). Pat, who has been a board member since 2010, has previously served as a regional and at-large director.

“NADCO is lucky to have Pat MacKrell leading its board of directors. Having known Pat for a long time, I know how qualified he is to steer the 504 program and the CDC industry in the best direction over the next two years,” said Barbara A. Vohryzek, President and CEO of NADCO.  “The 504 Company’s inspiring work with other economic development initiatives demonstrates Pat’s steadfast commitment to growing small businesses throughout their area of operation. We are confident his commitment to economic development and small businesses will help spur ever-more growth across the country now that he is Chairman of the national association.”

Pat brings more than 30 years of experience and leadership in commercial real estate lending to the NADCO board. He joined The 504 Company in 2001 as Senior Vice President and General Counsel and assumed the chief executive officer role in 2005. Pat previously practiced commercial banking law in New York State, representing a variety of financial institutions and businesses. Pat is a veteran of the U.S. Marine Corps and a graduate of York College, City University of New York and Albany Law School. In addition to serving on the NADCO board, he serves on The New York State Small Business Development Center Advisory Board and the New York State Economic Development Council Board.

“I am grateful to the outgoing Chairwoman, Mary Mansfield, for her service and leadership over the past two years, and to the entire board for their tireless effort on behalf of CDCs across the country,” said Pat. “I look forward to working with Barbara A. Vohryzek and the NADCO team on advancing initiatives that build our industry, support our important collaboration with SBA and advance regulatory and policy matters going forward.”

About The 504 Company 

The 504 Company is a leading provider of alternative financing in New Jersey, New York, and Pennsylvania. By working with our lending partners to provide small businesses ranging from start-ups in underserved markets to seasoned businesses with the capital needed start or grow, The 504 Company promotes economic development and job creation. Learn more at

As an affiliate of NYBDC ( and Excelsior Growth Fund (, leading providers of small business financing, The 504 Company can also facilitate access to a suite of business financing products, including SBA 7(a) and online alternative loans.  

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