patrick.net

http://www.washingtonpost.com/politics/decision2012/romney-camp-used-20m-loan-to-handle-summer-cash-flow-woes/2012/09/18/0794c824-020a-11e2-9367-4e1bafb958db_story.html

Even as it bragged about beating President Obama in fundraising over the summer, Mitt Romney’s presidential campaign was so low on cash that it ended up engineering an unusual $20 million loan to meet expenses until the former Massachusetts governor was formally named as the Republican nominee in late August, officials disclosed Tuesday.

The loan from the Bank of Georgetown, first reported Tuesday night by National Review Online and confirmed by a senior campaign official, provides a telling glimpse into previously unknown money troubles within the Romney camp over the summer. Romney has relied heavily on wealthy donors but has had persistent difficulty raising money among grassroots donors, who could have helped buoy his finances during the long summer before the Republican convention in Tampa.

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