Republican U.S. Senate candidate Mike Braun raised more funds than Democratic incumbent Joe Donnelly in the third quarter, but a significant portion of those funds came from personal loans. Meanwhile, Donnelly heads into the final days of the campaign with more cash available to spend.
Braun’s campaign sent out a press release Monday that said he raised $5.6 million in the third quarter (June 30 to Sept. 30) from nearly 10,000 donors. He has $1.9 million in cash on hand. But almost half of the amount Braun raised came from personal loans. Braun loaned the campaign $2.4 million this quarter, bringing his total amount of loans to nearly $8.8 million. The campaign has reimbursed Braun a total of $685,000, his latest financial report shows.
Donnelly’s campaign announced earlier on Monday that he had raised more than $3 million in the third quarter—a personal quarterly record. He has more than $4.5 million cash on hand. Nearly 70 percent of Donnelly’s contributions were $25 or less, according to his campaign, and 93 percent were $100 or less.
Donnelly received $2.6 million from individual contributions, while Braun received just under $2.5 million in individual contributions. The candidates were also close in spending in the quarter—Braun spent $4.3 million, while Donnelly spent $4.9 million.
The Indiana race is among the most-watched in the country as it is seen as a key seat to whether Republicans will maintain their majority in the U.S. Senate.
In the second quarter—from April 19 to June 30—Donnelly raised $1.7 million without any personal loans or contributions, while Braun raised $2.5 million with nearly $1 million in personal loans. At that time, Donnelly had about $6.4 million cash on hand, while Braun had about $1 million.
Throughout the entire election cycle, Braun has raised $14 million, including his $8.8 million in loans, and Donnelly has raised $14.7 million. Donnelly has loaned the campaign only $15,000.
Braun has spent more than Donnelly, with expenses close to $12.2 million so far, compared with Donnelly’s $10.4 million, but Donnelly was unopposed in the primary.