The Cannabis NYC Loan Fund (“Loan Fund”) aims to provide flexible and affordable capital to early-stage cannabis businesses that are run by Social and Economic Equity Applicants who have been awarded licenses to operate in NYC.
The RFP requests responses for two roles related to the Loan Fund: capital partners and afund administrator.
Capital partners will be primarily responsible for providing loan capital to the Loan Fund, in addition to subordinated loan capital that NYCEDC will provide.
The fund administrator will be primarily responsible for the day-to-day operations of the Loan Fund, including but not limited to sourcing and underwriting potential borrowers, structuring loans, deal execution, as well as ongoing servicing and management of loans.
NYCEDC expects to select one fund administrator and one or multiple capital partners.
NYCEDC will host an optional information session on Thursday, August 3rd at 11am at One Liberty Plaza, 14th Floor, New York, NY 10006 and virtually via Zoom.
Responses to the RFP are due no later than Thursday, September 7, 2023.
