Cannabis NYC Loan Fund
NYC Economic Development Corporation (NYCEDC) & Department of Small Business Services (SBS), managed by Tuatara Capital
Up to $500,000
Researched for this program: 4 rejection traps · 5 required documentsWhat decides this award ↓
Capital for NYC cannabis businesses
A public-private loan fund created to lower capital barriers for New York City cannabis businesses that struggle to access traditional lenders, with a focus on equitable industry access. Phase 2 (announced April 2026) expanded eligibility from CAURD-only to all NYC-based holders of an active New York State Office of Cannabis Management (OCM) adult-use license — Retail Dispensaries, Processors, Cultivators, Distributors, and Microbusinesses. Loans run up to $100,000 for pre-operational/newly launched businesses and up to $500,000 for operational businesses with 12+ months of revenue, at a fixed 9.5% interest rate over a term up to 36 months (first 6 months interest-only). The fund deploys an additional $6M+ in Phase 2 and is administered by NYCEDC and SBS with Tuatara Capital as fund manager.
- Funding type
- Loan
- Level
- Municipal
- Amount range
- Up to $500,000
- Realistic amount
- Pre-operational NYC licensees typically access up to $100,000; established operators with a year-plus of revenue can reach the $500,000 ceiling. Most early-stage applicants should plan around the $100,000 tier.
- Deadline
- Between intakes — the Phase 2 application window has closed; submitted applications under review. Monitor for the next intake.
- Status
- between-intakes
- States
- New York
- Payment model
- loan
Who qualifies
- Must hold an active New York State Office of Cannabis Management (OCM) adult-use cannabis license
- Eligible license types: Adult-Use Retail Dispensaries, Processors, Cultivators, Distributors, and Microbusinesses (CAURD licenses prioritized)
- Must be a New York City-based business with NYC-based operational infrastructure
- Must demonstrate ability to repay the loan (documentation required); no minimum credit score
- To qualify for loans above $100,000, must demonstrate at least 12 months of operating revenue
Hard requirements
- Must be an incorporated business
What it covers
Eligible expenses
- Startup expenses
- Working capital
- Equipment procurement
- Commercial tenant improvements
- Refinancing of existing obligations
Ineligible expenses
- Operations outside New York City
- Non-licensed cannabis activity
How to apply
-
1
Confirm OCM license and NYC operations
Verify you hold an active OCM adult-use license (dispensary, processor, cultivator, distributor, or microbusiness) and that your operational infrastructure is NYC-based.
~2 hrs
-
2
Assemble financial documentation
Gather business financials, a use-of-funds plan, and documentation of repayment ability. Operational businesses seeking over $100,000 need at least 12 months of revenue records.
~6 hrs
-
3
Apply through the fund portal
Submit the application at cannabisnycloanfund.com/apply during an open intake window. The fund manager (Tuatara Capital) reviews applications and works with applicants on terms.
~4 hrs
-
4
Close and draw funds
On approval, execute loan documents (1.5% closing fee, minimal closing costs). Repayment is interest-only for the first 6 months, then amortizes over the remaining term up to 36 months at fixed 9.5%.
~3 hrs
There's no minimum credit score — the fund underwrites on repayment ability and your OCM license, not FICO, which is the whole point of a public-private cannabis fund. CAURD licensees are explicitly prioritized. Phase 2 opened the door to processors, cultivators, distributors, and microbusinesses (not just retail), so non-dispensary licensees who were shut out of Phase 1 should watch for the next intake.
Deadline & timing
The fund operates in phases. Phase 1 (2024) was CAURD-only with loans up to $100,000; Phase 2 (announced April 2026, $6M+ additional) expanded to all OCM adult-use license types and closed its application window. Check cannabisnycloanfund.com for reopening.
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