Limited from still being in the Republican presidential primary by law, the Romney campaign borrowed $20 million in the time leading up to the convention, National Review reports.
We realized that we could collateralize this debt with $20 million of general-election funds that were already sitting in our bank account,” a senior Romney aide told National Review Online.
The Romney campaign borrowed the money in August from the Bank of Georgetown, just as many of its primary dollars were drying up.
“We took advantage of the law as it exists to secure this line of credit,” the aide says. “We were able to stay competitive in a period when we were looking at a tilted playing field.”
Read National Review’s full report here.