Donald Trump has forgiven $50 million in loans he made to his campaign, and fundraising efforts have kicked into high gear, his national finance chairman told CNBC on Thursday.

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

“We just forgave the loan this week,” Mnuchin added in a “Squawk Box” interview.