The super PAC “Ready for Hillary” may have tens of thousands of small-dollar donors and raised more than $11 million since its 2013 founding, but it’s in debt — to the tune of $1 million.
The New York Times reported that “Ready for Hillary” reported a bank balance of $875,626 to the Federal Election Commission on Nov. 24, but also owed Amalgamated Bank about $1 million.
Amalgamated is tied to various unions and serves as a go-to source for Democratic candidates, parties and political action committees, The Times reported.
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The loan was incurred in October.
“This investment, used to fund our massive post-midterms direct mail program, will pay dividends from now until Hillary announces her decision” on a White House run, organization spokesman Seth Bringman told The Times.
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