Florida member-elect Ross Spano acknowledged he may have violated campaign finance law and promised to repay $180,000 in personal loans by the end of week in a letter to federal regulators.

The freshman Republican and his lenders now recognize they may have transgressed rules against straw donations “in violation of the Federal Campaign Finance Act,” according to a letter from his attorney to the Federal Election Commission dated Friday and first reported by the Tampa Bay Times.

Spano borrowed $70,000 from Karen Hunt, a retiree, and $110,000 from Cary Carreno, a businessman in utilities, in four installments from June to October at an interest rate of 5 percent. The candidate lent his campaign committee $167,000 in personal funds over approximately the same period.

Spano accepted $75,000 from Carreno on Oct. 29, eight days before the election, and lent his campaign $70,000 the same day.

Those loans far exceed the limit on contributions from individuals to federal candidates of $2,700.