Mitt Romney borrowed $20 million for his presidential campaign in August, a campaign official said on Tuesday, money that helped carry Mr. Romney through the Republican convention until he could tap into tens of millions of dollars in general election money his campaign raised.
The cash crunch appeared to have been more dire than previously disclosed. To give his campaign a cushion, Mr. Romney’s campaign took out a bank loan against the contributions that he would be allowed to tap after the nomination. (The exact amount of money he will come into is unknown because much of it remains stored in a joint fund-raising committee with the R.N.C., making it difficult to calculate how much of the Republicans’ $168.5 million in cash on hand at the end of August was general election money reserved for Mr. Romney’s campaign.) The official said that $5 million was repaid before the end of August and $4 million more this month, leaving about $11 million left to be paid. Some of the debt will appear on Mr. Romney’s August report with the Federal Election Committee, due on Sept. 20.
It's all a money game