Presidential candidate Ted Cruz did not properly disclose a large loan he received from Goldman Sachs during his 2012 Senate run in Texas, according a new report.

The New York Times reports that the Republican presidential candidate received two large loans, totaling about $1 million, which coincided with an infusion of personal funds into his campaign but were not disclosed to the Federal Election Commission. The two loans were from Goldman Sachs and Citibank. Cruz’s wife Heidi works at Goldman, and has a large role in his fundraising operation.

Read More: How Ted Cruz Built His Christian Connection

Cruz has previously said that he financed his upstart campaign by risking it all, liquidating much of his personal assets in an all-or-nothing attempt at a seat in Congress. A Cruz spokeswoman told the Times that the loan from Goldman Sachs was used to finance his Senate campaign and that the failure to report it was “inadvertent.”

In 2013, TIME reported that Cruz failed to publicly disclose his financial relationship with a Caribbean-based holding company during the 2012 campaign. Because of TIME’s reporting, Cruz corrected his disclosure.

The report could risk undermining Cruz’s appeal with conservative voters at a populist moment in Republican politics, and with businessman Donald Trump seeking to halt Cruz’s recent rise in the polls ahead of the Iowa caucuses next month.

Read more at the New York Times

Get our Politics Newsletter. The headlines out of Washington never seem to slow. Subscribe to The D.C. Brief to make sense of what matters most. Please enter a valid email address. Sign Up Now Check the box if you do not wish to receive promotional offers via email from TIME. You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy . This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Thank you! For your security, we've sent a confirmation email to the address you entered. Click the link to confirm your subscription and begin receiving our newsletters. If you don't get the confirmation within 10 minutes, please check your spam folder.

Contact us at letters@time.com.