Black Women Built Lanes, Now Those Lanes Are Under Attack

Black women are making significant strides as entrepreneurs, but they continue to face serious challenges, especially in today’s uncertain economic climate. Economic instability has affected the growth and sustainability of many businesses led by Black women, as seen in the experiences of Pinky Cole, founder of Slutty Vegan, and Fawn Weaver, founder of Uncle Nearest Premium Whiskey.

Current economic conditions present hurdles across industries. Unemployment remains a concern, with an overall rate of 4.4%, while Black Americans face a higher rate of 7.7%. Inflation continues to drive up operating costs, including labor, supplies, and logistics. Nearly 46% of small business owners cite inflation as a top concern, often forcing them to raise prices to maintain profitability.

Pinky Cole’s Legal Battle Explained

On March 31, Pinky Cole discussed the challenges following Slutty Vegan’s rapid expansion to 14 locations by 2022 during an appearance on The Breakfast Club. The growth led to financial strain and a complex legal situation in which she relinquished ownership in February 2025, only to regain control 43 days later.

According to BOSSIP, Cole filed for Chapter 11 bankruptcy in Georgia to restructure more than $1.3 million in debt. This included $1.2 million owed to the U.S. Small Business Administration and nearly $192,000 to the Georgia Department of Revenue.

“The problem is that when you grow that fast, sometimes you put basketball players on the golf course...they can't do what you need to take you where you need to go,” Cole said.

To address the situation, Cole utilized an Assignment for the Benefit of Creditors (ABC), allowing assets to be transferred to a third party for liquidation and debt repayment.

“I did not own the company for 43 days. The estate took the assets and debt to sell off and pay the debt. Then they sold the business to someone who wanted to buy it,” she explained.

After regaining ownership, Cole faced another challenge when Guardian Asset Management seized her rental property and changed the locks despite no outstanding debt. She later won in court when a federal bankruptcy judge ruled in her favor after the creditor failed to appear.

“We're taking further action because it's real reputational damage when someone assumes you lost your house. This is an investment property,” Cole said. “It's a learning lesson for me...victory will prevail, and I'm vindicated because...give me my stuff back.”

For Black Women, Entrepreneurship Can Be Difficult

Black women are the fastest-growing group of entrepreneurs in the United States, with businesses increasing by 13% between 2024 and 2025. However, they continue to face systemic barriers, including limited access to capital, fewer legal resources, and structural inequities in funding.

Despite these challenges, many remain resilient, driven by a desire for autonomy, wealth-building, and long-term impact. Cole’s journey—from television producer on The Maury Show to full-time entrepreneur in 2014—illustrates that determination.

This same resilience is evident in Fawn Weaver, who is actively navigating legal and financial challenges to protect her company’s future.

Fawn Weaver’s Battle with Uncle Nearest Premium Whiskey

In March, Fawn Weaver secured a major legal victory against lender Farm Credit Mid-America, which had accused her and her husband of defaulting on more than $108 million in loans. The dispute led to a court-ordered receivership in 2025, but Weaver announced on March 17 that the receivership had ended.

Weaver, along with her husband and the company’s largest shareholder, has filed a lawsuit in New York State Supreme Court alleging that the lender engaged in a smear campaign to deflect from its own internal issues.

Like Cole, Weaver filed for Chapter 11 protection to reorganize debt while maintaining operations and protecting stakeholders.

“That filing immediately stayed the earlier lawsuit. If I were just reading the headlines or only the bank’s allegations, I’d be concerned too, but Chapter 11 requires complete financial transparency. The picture painted about Uncle Nearest will now have to be proven through numbers, not words,” Weaver said.

Court filings indicate approximately $13.1 million in unsecured obligations and a disputed loan balance of about $102.5 million. However, these liabilities are set against estimated enterprise assets of approximately $529 million.

Despite ongoing legal challenges, Uncle Nearest Premium Whiskey remains one of the fastest-growing whiskey brands. The Nearest Green Distillery attracts more than 200,000 visitors annually and has held the title of most awarded bourbon and American whiskey for seven consecutive years.

Resilience in the Face of Adversity

Pinky Cole and Fawn Weaver are navigating highly visible challenges, but their commitment to protecting their businesses and legacies underscores a broader truth: Black women entrepreneurs continue to lead, innovate, and persevere—even in the face of systemic and economic adversity.