--- title: Donald Trump Forgives $50 Million in Campaign Loans description: Donald Trump has forgiven $50 million in loans he made to his campaign, according to his staff. canonical: https://time.com/4380090/donald-trump-forgives-campaign-loans/ author: Tessa Berenson article:opinion: false article:content_tier: free article:published_time: 2016-06-23T16:11:59.000Z article:modified_time: 2023-12-15T00:14:25.000Z article:section: Politics og:title: Donald Trump Forgives $50 Million in Campaign Loans og:description: After a poor month of fundraising og:url: https://time.com/4380090/donald-trump-forgives-campaign-loans/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/bltbc7266712ed1f881/698897570b72e3354f6e9c2a/donald-trump-protest.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 og:image:width: 1200 og:image:height: 675 og:image:alt: Republican presidential candidate Donald Trump delivers a speech about his vision for foreign policy at the Mayflower Hotel April 27, 2016 in Washington, DC. og:type: article twitter:card: summary_large_image twitter:title: Donald Trump Forgives $50 Million in Campaign Loans twitter:description: After a poor month of fundraising twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/bltbc7266712ed1f881/698897570b72e3354f6e9c2a/donald-trump-protest.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 ---  # Donald Trump Forgives $50 Million in Campaign Loans  by [Tessa Berenson](https://time.com/author/tessa-berenson/)  ## Tessa Berenson Updated: Dec 15, 2023 12:14 AM UTCPublished: Jun 23, 2016 4:11 PM UTC  Republican presidential candidate Donald Trump delivers a speech about his vision for foreign policy at the Mayflower Hotel April 27, 2016 in Washington, DC. Republican presidential candidate Donald Trump delivers a speech about his vision for foreign policy at the Mayflower Hotel April 27, 2016 in Washington, DC.Chip Somodevilla—Getty Images  by [Tessa Berenson](https://time.com/author/tessa-berenson/)  ## Tessa Berenson Updated: Dec 15, 2023 12:14 AM UTCPublished: Jun 23, 2016 4:11 PM UTC Donald Trump has forgiven $50 million in loans he made to his campaign. “\[Trump\] loaned $50 million to the campaign. He’s now forgiven that loan. So that is a contribution,” Steve Mnuchin, Trump’s campaign finance chairman, [told CNBC Thursday](http://www.cnbc.com/2016/06/23/trump-forgives-50-million-in-loans-to-his-campaign-trump-finance-chief.html). “\[Trump\] has also said he will contribute significantly more money.” Trump’s team released a statement later in the day, saying, “Mr. Trump has fully extinguished (terminated) this loan per his commitment. Therefore, he has personally invested in excess of $50 million dollars in the future of our country.” The announcement comes as Trump’s [fundraising efforts are escalating](http://time.com/4376445/donald-trump-fundraising-donations/?iid=sr-link1) towards the general election. On Tuesday, in light of May fundraising numbers showing him [significantly behind Hillary Clinton](http://time.com/4376248/hillary-clinton-donald-trump-fundraising/?xid=homepage), Trump put out a statement saying, “If need be, there could be unlimited ‘cash on hand’ as I would put up my own money, as I have already done through the primaries.” ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/4380090/donald-trump-forgives-campaign-loans/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/4380090/donald-trump-forgives-campaign-loans/"},"headline":"Donald Trump Forgives $50 Million in Campaign Loans","datePublished":"2016-06-23T16:11:59.000Z","dateModified":"2023-12-15T00:14:25.000Z","description":"After a poor month of fundraising","url":"https://time.com/4380090/donald-trump-forgives-campaign-loans/","keywords":["Donald Trump","2016 Election topic"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/bltbc7266712ed1f881/698897570b72e3354f6e9c2a/donald-trump-protest.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Tessa Berenson","jobTitle":null,"url":"https://time.com/author/tessa-berenson/"}],"articleSection":"Politics","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/bltbc7266712ed1f881/698897570b72e3354f6e9c2a/donald-trump-protest.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"Republican presidential candidate Donald Trump delivers a speech about his vision for foreign policy at the Mayflower Hotel April 27, 2016 in Washington, DC.","caption":"Republican presidential candidate Donald Trump delivers a speech about his vision for foreign policy at the Mayflower Hotel April 27, 2016 in Washington, DC.","creditText":"Chip Somodevilla—Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/politics/","name":"Politics"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/donald-trump/","name":"Donald Trump"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/4380090/donald-trump-forgives-campaign-loans/","name":"Donald Trump Forgives $50 Million in Campaign Loans"}}]}] ```