Donald Trump's campaign had only $1.3 million on hand at the start of the month, a small fraction of the $42.5 million held by Hillary Clinton. | Getty Trump announces $50 million in forgiven campaign loans

Donald Trump's campaign announced Thursday that the presumptive Republican nominee has forgiven approximately $50 million he has made in loans to his presidential effort, keeping with his vow to rule out using campaign contributions to repay himself.

“I have absolutely no intention of paying myself back for the nearly $50 million dollars I have loaned to the campaign," Trump said in a statement. "This money is a contribution made in order to 'Make America Great Again."


The campaign also played up its burgeoning fundraising operation, which between the campaign and joint fundraising agreements with the Republican National Committee and state parties raised $5 million in online donations between Tuesday morning and Wednesday evening. By Thursday morning, national finance chairman Steve Mnuchin told CNBC's "Squawk Box" that number is now at $6 million online.

"[Trump] loaned $50 million to the campaign. He's now forgiven that loan. So that is a contribution," Mnuchin told CNBC. "[Trump] has also said he will contribute significantly more money."

Trump's campaign had only $1.3 million on hand at the start of the month, a small fraction of the $42.5 million held by Hillary Clinton.