Cannabis NYC

In partnership with the NYC Economic Development Corporation, the Cannabis NYC Loan Fund was established to provide affordable and flexible financing opportunities to licensed cannabis operators in New York City.

In June 2024, Tuatara Capital was selected as the Cannabis NYC Loan Fund administrator. $2 million is now available for state-approved Conditional Adult-Use Retail Dispensary (CAURD) licensees based in NYC to apply for business loans up to $100,000.

Loans provided through this fund will support borrower's start up and/or ongoing operating expenses with flexibility and unrestricted use for business expenses.

In partnership with Mayor’s Office of Criminal Justice, the Cannabis Reentry Employment Assistance & Training Experience (CREATE) pilot program was launched in April 2024 to establish a pipeline for justice-impacted individuals to access workforce opportunities in the developing legal industry.

CREATE is a 6-week, paid training program that identifies individuals who have justice system involvement in the past three years and provides them with opportunities for training and employment within NYC's cannabis market.

This program provides participants with in-person classroom training, relevant work experience, and an internship placement within a licensed dispensary partner for on-the-job training. CREATE provides licensed dispensary partners with qualified, entry-level candidates to support day-to-day operations.

Gain the tools to launch your cannabis-focused business.

FastTrac® for Cannabis Entrepreneurs provides prospective entrepreneurs with the fundamentals of starting, operating, and scaling a cannabis-focused business in New York’s emerging industry.

Access free services to start, operate, and grow your cannabis business through SBS's NYC Business Solutions Centers (BSCs), located in all five boroughs:

• business courses
• compliance consultations
• financing assistance
• legal assistance
• hiring assistance
• government navigation
• Minority and Women-owned Business Enterprise (M/WBE) certification
  

NYC LEASE is a temporary 6-month initiative that connects Conditional Adult-Use Retail Dispensary (CAURD) licensees looking for viable retail locations with landlords of vacant storefronts and already existing services provided by SBS, including the Commercial Lease Assistance program.

The Marijuana Regulation and Taxation Act (MRTA) legalizes cannabis for adults 21 years of age or older. This law sets out a framework that will protect public health and safety, while promoting social equity and economic development. The New York State Office of Cannabis Management (OCM) will license cultivators, processors, distributors, and dispensaries to grow and sell cannabis in New York.

To stay up to date on New York State rules and regulations, visit cannabis.ny.gov.

If you are interested in becoming a New York State cannabis licensee, explore New York State Office of Cannabis Management (OCM)’s website to learn more about the process and the rules.

• NYS Cannabis Laws & Regulations
• NYS Office of Cannabis Management (OCM)
  • Call 888-626-5151
  • Sign Up for OCM Updates
  • Licensing
  • Cannabis Workforce Development

How do I get a license to distribute, cultivate, sell, or process cannabis?

The NYS Office of Cannabis Management (OCM) is charged with issuing licenses for businesses to participate in New York’s adult-use, medical, and cannabinoid hemp industries. OCM is developing regulations on how a person or business can apply for and receive a license. Please see OCM’s website for updates and sign up for updates from SBS about the latest information impacting New York City.

Is cannabis safe to use?

It is now legal for adults 21 and older to possess up to three ounces of cannabis and up to 24 grams of concentrated cannabis for personal use in New York. Adults may smoke or vape cannabis wherever smoking tobacco is allowed under the smoke-free air laws, with a few exceptions.

Medical cannabis has been legally available to New Yorkers through the State’s medical marijuana program since 2014.

For more information, visit the NYC Department of Health and Mental Hygiene

Is cannabis use legal for New Yorkers younger than 21?

It is still against the law for people younger than 21 years old to possess, sell, or use any amount of cannabis. Also, no one may legally possess more than three ounces of cannabis and 24 grams of concentrated cannabis, sell any amount without a license, or drive while under the influence or impaired by cannabis.

Under federal law, cannabis possession and use in all forms remains illegal. For more information on the federal law, visit the U.S. Food & Drug Administration (FDA) website on cannabis and cannabis-derived products.