The National Republican Senatorial Committee borrowed $20 million in September as it ramped up advertising ahead of the Nov. 3 midterm elections, according to a Federal Election Commission filing submitted Tuesday, Oct. 20. The Republican campaign committee took out a $17 million loan on Sept. 1 and another for $3 million on Sept. 22. It reported $28 million in cash at the end of the month, a figure that includes the borrowed money. The NRSC raised $31 million and spent $41 million in September. Transfers from the Republican National Committee accounted for $18 million of the committee’s fundraising that month. The NRSC also reported spending just under $34 million on coordinated activity with Republican candidates, all of it for advertising. The borrowing comes as Republicans face a challenging Senate map and pour money into battleground contests. The NRSC said its overall fundraising has reached $228 million this cycle, compared with $188 million for the Democratic Senatorial Campaign Committee. Democratic Senate candidates, however, have raised more than their Republican counterparts, according to campaign finance figures cited in coverage of the filing. “The NRSC has raised record-breaking resources, consistently maintained one of the lowest burn rates across all committees, and furthered the efficacy of every dollar by immediately acting on the fall of unlimited coordinated spending with our candidates,” NRSC communications director Joanna Rodriguez said. She added that the committee would do everything it could to protect the Republican Senate majority. The loans are not unprecedented for the committee late in an election cycle. The NRSC borrowed $17 million in 2024 and $20 million during the 2022 cycle, according to FEC records. Changes to campaign finance rules now allow political parties to spend more freely on advertising coordinated with candidates, and at a lower rate than in previous cycles. That could help the NRSC stretch its money further, even as the loans add to the committee’s financial obligations. The DSCC ended September with just under $25 million in cash and had not reported taking out loans during the current cycle as of that point.