Republican nominee Donald Trump made huge fundraising gains and wrote off $47 million in loans made to his campaign, according to financial documents released Wednesday.
Since Republican challengers John Kasich and Ted Cruz dropped out of the primary race, Donald Trump has tried to assure voters and fundraisers he had no intention of using donations for pay back the personal loans he made to the campaign during the primary, totaling $47 million.
Voters were beginning to doubt Trump as monthly FEC campaign funding reports showed he had not formally erased the debt. But July’s released report finally reveals that Trump is debt-free and clear from the campaign’s finances, reports The Associated Press.
Trump also overcame an incredible fundraising deficit. At the end of May, Trump only had $1.3 million in the campaign account, but by the end of June, Trump had over $41 million in campaign funds. Although he still has less money than Hillary Clinton, at $52 million, Trump has managed to shorten the deficit with very aggressive email campaigns.
Trump raised the most with small donors. The campaign received over $12 million from donors who gave $200 or less, about double the amount Clinton received in small donations. Democratic challenger Bernie Sanders also earned more among small donors than Democratic nominee Hillary Clinton.
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