New York Cannabis Loans
The FundCanna team has funded over $20 Billion to small and medium businesses nationwide. We can provide you with a Cannabis Loan in as little as 24 hours.
Applying for Cannabis Funding in New York has never been easier.
Fill out the form below and have access to the capital you need in as little as 24 hours.
3 easy steps
Get access to the funding your Cannabis Business needs. FAST
Has marijuana been legalized in NY?
Yes, finally! Back in 2021 New Yorkers got a green light to use cannabis for both recreational and medicinal use, when former Governor Andrew Cuomo signed the Marijuana Regulation and Tax act. New Yorkers can possess up to 3 oz of marijuana for recreational use, or twenty four grams of concentrates.
In October 2022, a home grown medical marijuana law took effect, allowing medical cannabis patients aged 21 to grow up to three mature plants and three immature plants. For those unable to cultivate their own cannabis, designated caregivers are permitted to grow for up to four patients.
In November 2022, New York took major step toward launching a legal market for recreational pot by approving 36 businesses and nonprofits for licenses to operate the first retail dispensaries in the state, many of which are located in New York City and Long Island.
How do I go about starting a legal cannabis company in New York?
Connect with the Office of Cannabis Management. They’re the issuing department for marijuana licenses. A conditional adult use retail license costs $2000. The OCM has a goal of awarding 50% of the available licenses to social and economic equity applicants.
How do I go about starting a legal cannabis company in New York?
Connect with the Office of Cannabis Management. They’re the issuing department for marijuana licenses. A conditional adult use retail license costs $2000. The OCM has a goal of awarding 50% of the available licenses to social and economic equity applicants.
Do banks offer financing options to marijuana businesses in NY?
Fuhgettaboutit. It is very unlikely a cannabis company can borrow money from a New York bank. While cannabis is fully legal in New York, it is still classified as a Schedule One controlled substance and remains illegal federally. This is why most banks and credit card companies won't work with your company. Unfortunately, obtaining a loan for your business through your bank won't be possible.
This is where FundCanna can help. We only lend money to marijuana businesses. It's all we do.
New York Cannabis Retail Laws
The interactive map below shows which municipalities in New York allow for Cannabis retail locations.
FAQ's
Looking for a Cannabis Loan in New York?
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