On Friday, South Carolina senator Lindsey Graham handed his endorsement to Jeb Bush, a minor piece of good news for the struggling presidential candidate. But whatever impact, if any, Graham’s support might have, it was likely negated by a devastating report that many of Bush’s wealthy donors are not only planning to jump ship, but are only giving money to his campaign out of loyalty to his family.

The timing is not ideal for Graham, already unpopular in South Carolina, who called Bush the only man “ready on day one to be commander in chief” minutes before Thursday night’s debate. While his endorsement could be meaningful in influencing the South Carolina primaries, it won’t matter if, as Bush’s donors hope, he drops out after New Hampshire.

According to Politico, Bush backers are anxiously waiting for him to drop out so they can shift their largesse to his younger, sexier establishment protégé Marco Rubio. In the meantime, they’ll continue funding him due to their longstanding relationships with the Bush family, waiting for what one Bush appointee described as a “family hall pass” to move on. Another Bush donor said they were told, “Hey, I need you to throw away money on Jeb—out of loyalty.”

But without that green light, they’re stuck donating to a very stubborn candidate. “I’d urge him to get out after New Hampshire if he doesn’t do well, but he probably won’t,” a “disappointed” Bush donor from Wall Street told Politico. The overwhelming sense is of a candidate who overpromised—to the tune of $114 million in donations to his campaign and super PACs—but under-delivered in an election cycle hijacked by Donald Trump and Ted Cruz.

It seems that the narrative surrounding Bush—who has sunk to fifth place in national polls—has finally caught up with even his most ardent supporters. Rick Wilson, a Florida political operative supporting Rubio, told Politico that Bush donors he was courting considered the entire effort “so sad.”

“They whisper to each other, ‘When will Jeb go?’” he added.