The DNC borrowed $15 million at the start of October to strengthen state operations and rebuild party infrastructure under new leadership. The loan preceded Democratic victories in Virginia, New Jersey and a California referendum. The move comes as the DNC entered October with far less cash than the RNC and closed the month with about $18 million after the loan. Chair Ken Martin says the borrowing is a strategic early investment to boost long-term competitiveness.
DNC Secures $15M Loan to Shore Up State Operations as Cash Reserves Fall
The DNC borrowed $15 million at the start of October to strengthen state operations and rebuild party infrastructure under new leadership. The loan preceded Democratic victories in Virginia, New Jersey and a California referendum. The move comes as the DNC entered October with far less cash than the RNC and closed the month with about $18 million after the loan. Chair Ken Martin says the borrowing is a strategic early investment to boost long-term competitiveness.
07:43 AM, 11/21/2025Politics
The Democratic National Committee took out a $15 million loan at the start of October as it moves to rebuild party infrastructure and boost support for state parties under new leadership. The borrowing came roughly a month before Democratic wins in Virginia and New Jersey and a key California redistricting referendum.
Federal Election Commission filings show the loan was arranged at the beginning of October. National party committees sometimes borrow ahead of contests to fund intense late-stage activity, but taking on such a substantial loan a year before the next presidential election is notable.
Going into October, the Republican National Committee reported a large cash advantage — about $85 million to the DNC’s roughly $12 million. After adding the loan, the DNC’s filing shows it closed the month with approximately $18 million on hand.
DNC officials say the loan supports increased commitments to state parties: the national committee has raised monthly transfers to state parties to more than $1 million and reported investing over $3 million apiece into Virginia and New Jersey ahead of their recent contests. Those transfers and investments have reduced the DNC’s available funds for the next national campaign.
“We can’t win elections or fight back against Trump if the D.N.C. downsizes operations like it often does after a presidential cycle,” DNC Chair Ken Martin said, adding that the borrowing is a deliberate investment to build long-term capacity and re-engage supporters. “I made a bet that investing early would build power, rack up wins and rally supporters back to the table. That bet is paying off.”
The loan underscores a strategic choice by party leaders to prioritize state-level infrastructure and early investments even while operating with a smaller cash cushion than their Republican counterparts. How that strategy affects fundraising and operations through the coming campaign cycle will be closely watched.