The committee spent $32 million in the first two weeks of October. About half went to coordinated expenditures in 10 states, including $4.7 million in Ohio and more than $1 million apiece in Iowa, Michigan, Kansas, Alaska and Maine. The filing also listed spending in Texas, Georgia, North Carolina and New Hampshire.

The DSCC reported slightly more than $20 million in cash on hand as of Oct. 14. The loan provides the party’s Senate campaign arm with additional money for the closing stretch, as control of the chamber is at stake.

The National Republican Senatorial Committee, its GOP counterpart, borrowed $20 million in September, according to its recent FEC filing. The DSCC has trailed the NRSC in fundraising for much of the election cycle, while Democratic candidates have generally raised more than their Republican opponents. That candidate fundraising edge can help Democrats compete for broadcast advertising, where candidates and party committees working with them can get lower rates than outside groups.

The committees are also competing against outside political spending. Republican-aligned super PACs have held a substantial cash advantage, while Democrats have worked to expand the number of Senate races they are contesting.

Borrowing late in an election cycle is not unusual for party committees. The DSCC took out $20 million in loans during the 2024 campaign cycle.

“Senate Democrats remain in the best position yet to win the majority,” DSCC spokesperson Maeve Coyle said in a statement, citing the party’s efforts to expand the electoral map. She said the committee would use “every tool at our disposal” and predicted Democrats would win in November.