Marine Le Pen, French far right Front National party president | Martin Bureau/AFP via Getty Images Marine Le Pen to borrow €6 million from father’s lender The money will fund a large part of the National Front leader’s presidential campaign.

PARIS — French far-right leader Marine Le Pen will borrow €6 million from a company owned by her father, Jean-Marie Le Pen.

The money will underwrite most projected costs of Marine's presidential campaign. It will not cover campaigning for parliamentary elections, which follow a month after the May, 2017 presidential vote.

Aides to both Marine Le Pen and her father confirmed the loan to newspaper Le Monde. Jean-Marie Le Pen's lender, named Cotelec, will disburse the funds in tranches to underwrite his daughter's presidential campaign, Le Monde reported.

In September, Jean-Marie Le Pen — who was excluded from the National Front party in 2015 over inflammatory comments — told POLITICO that he planned on lending to his daughter via Cotelec. At the time, Marine Le Pen's campaign treasurer said that she was €8 million short of €12 million she needed to run a proper campaign (the Front would be able to lend €4 million to the campaign.)

With an additional €6 million from the elder Le Pen, Marine will probably not have to seek another loan before the May 2017 presidential election. In 2014 her party borrowed €9 million from a Russian-backed bank, but it subsequently became insolvent.

However, the loan from Cotelec, which is at the upper end of its lending capacity, does not solve the problem of the Front's parliamentary election campaigns, which come immediately after the presidential vote. An additional €10 million is still needed for the parliamentary campaign.

Le Pen has tried unsuccessfully to obtain loans from both French and foreign banks. Party officials, criticizing what they say is unfair treatment by banks, argue for a law that would force banks to lend to all parties.

While it partly solves her financing crisis, borrowing from Jean-Marie Le Pen is problematic image-wise for its current president.

The elder Le Pen was stripped of his party membership in August, 2015, for saying, among other offensive comments, that Nazi death camps were a "detail" of World War II. His ousting marked a turning point for the National Front, which had struggled for years to jettison a reputation for racism and anti-Semitism that was partly linked to the elder Le Pen.

Le Pen and Marine have severed their personal ties, according to members of their entourage.

But the financial link between the National Front and Cotelec was never broken. In his interview, the elder Le Pen told POLITICO that he drew a clear distinction between his personal conflict with his daughter, and the necessity of supporting the National Front.

Cotelec was created with the specific purpose of lending money to election candidates, with next to zero direct financial outlay from Jean-Marie Le Pen. Its business model is straightforward: Private lenders lend at 3 percent interest to Cotelec, which lends to candidates at a rate of 6 percent.

The difference goes to remunerating private lenders, whose identity is unknown.