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Federal Election Commission | United States of America

Brokerage loans

Candidates may use funds derived from an advance on their brokerage account, credit card account or other line of credit to finance their campaigns, if the extension of credit is:

  • In accordance with applicable law;
  • Under commercially reasonable terms; and
  • Made by persons who make such loans in the normal course of their business.

The candidate’s authorized committee has the option of repaying loans derived from a candidate’s brokerage account or other line of credit directly to the lending institution or to the candidate. All such loans to the committee derived by these methods must be reported by the committee. The committee must report the loan from the candidate as a receipt and repayment of the loan to the candidate as a disbursement.

From the FEC Record

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Legal citations

Regulations

11 CFR 100.83
Brokerage loans and lines of credit to candidates

11 CFR 104.3(a)(3)(vii) and (b)(2)(iii)(A)
Contents of authorized committee reports

This information is not intended to replace the law or to change its meaning, nor does this information create or confer any rights for or on any person or bind the Federal Election Commission or the public.

The reader is encouraged also to consult the Federal Election Campaign Act of 1971, as amended (52 U.S.C. 30101 et seq.), Commission regulations (Title 11 of the Code of Federal Regulations), Commission advisory opinions and applicable court decisions.