Uncle Nearest Accused of Hiding 20 Million dollar Loan Linked to Jay-Z

by Francis Moses

Friday, 13 March 2026 at 08:25The daily pour

The drama around Nearest Green Distillery just took another unexpected turn. The Tennessee whiskey brand has been accused of concealing the origin of a 20 million dollars loan associated with rapper and entrepreneur Jay-Z. The charge is an extension of a broader legal battle over loans totaling more than 100 million dollars related to the company.

It was alleged by Farm Credit Mid-America, the Kentucky lender that was the first to sue the whiskey producer in August 2025.

FAQ

What is the Nearest Green Distillery?
It is the Tennessee distillery that produces Uncle Nearest whiskey and honors the legacy of Nearest Green, one of the first known African American master distillers.
Where is the Nearest Green Distillery located?
The distillery is located in Shelbyville, about 1 hour south of Nashville.
What is the loan controversy surrounding the distillery?
The distillery was involved in a dispute over a large loan connected to its expansion plans, which led to public discussion about financing and ownership within the whiskey industry.

Dispute over the source of a loan

In a recent court filing, the bank said Uncle Nearest founders Fawn and Keith Weaver misrepresented where the 20 million dollars loan came from. According to the filing, the company initially said the money had been provided by Grant Sidney, an investment firm owned by Fawn Weaver.

However, the lender claims the funds actually came from MarcyPen, a venture capital firm connected to Jay-Z and several other investors. Farm Credit told the court that the loan was structured in a way that placed the funds outside the bank’s control under an existing receivership order.

The lender argues this move prevented the money from being seized as part of the company’s outstanding debt obligations.

Jay-Z’s investment firm involved

In late 2024, the Merger of Marcy Venture Partners, which is co-founded by Jay-Z, and Pendulum Holdings resulted in the formation of MarcyPen.

The company has poured into some of its popular brands, such as Savage X Fenty, StockX, and Adwoa Beauty. It has also invested in the ready-to-drink alcohol brand The Finnish Long Drink. According to court documents, Uncle Nearest has not yet made the required payments on the 20 million dollars loan.

The whiskey company has rejected the allegations and asked the court to dismiss the bank’s claims. In a filing, the Weavers said the accusations of fraud were incorrect and did not meet the legal standards required in federal court. They also argued that the lender’s statements about the loan arrangement should be disregarded.

Nearest Green drama since 2026

The conflict between Uncle Nearest and Farm Credit became public in August 2025, when the lender first filed its lawsuit. At the time, the bank said the whiskey company had missed several principal and interest payments beginning in January 2024.

Farm Credit also claimed that loan funds were used to purchase a Martha’s Vineyard property worth more than 2 million dollars. The lender alleges the company sold whiskey barrels to repay other parties while failing to pay the bank.

According to Farm Credit, Uncle Nearest now owes close to 200 million dollars. The legal case is still ongoing.