The Democratic National Committee (DNC) has taken out a $15 million loan, using its headquarters as collateral, according to public records. This loan was reported by NOTUS and was secured in 2025 as the DNC faced challenges in fundraising compared to the Republican National Committee (RNC) ahead of the midterm elections.
The DNC's loan is the largest ever taken out by the committee for an off-year election, allowing for an additional $5 million withdrawal beyond the initial amount. A DNC official noted that using property as collateral for loans is not uncommon, citing similar actions in previous years.
As of June 30, the DNC reported $18.5 million in debt against $16.3 million in cash. In contrast, the RNC had $128.5 million in cash with no debt at the same time. The DNC's financial situation could limit its ability to support candidates effectively in the upcoming elections.
Despite the debt, some Democratic candidates in key races have raised more funds than their Republican counterparts. The DNC has also implemented measures to manage its finances, including asking leadership to sign nondisclosure agreements regarding financial discussions. However, internal dissent regarding the financial management has been reported, with some staff expressing concerns about the DNC's financial health and fundraising capabilities.