2027 isn't tomorrow, but at the National Rally, they've already pulled out the plans and packed the boxes. Headquarters, new headquarters, campaign strategy taking shape… On paper, the machine is running smoothly. Financially, it's a different story: the party says it's still struggling to secure bank financing to fully launch its upcoming presidential campaign.
Because behind the slogans and videos lies a cold, almost bureaucratic reality. The National Rally (RN) is seeking €10,7 million in cash to pre-finance its campaign, before the reimbursements required by public funding rules. This is no small matter: without an advance, it's difficult to book, produce, travel, and organize. A party may have the wind in its sails in the polls, but it also needs fuel to keep the campaign caravan running.
Wednesday, April 29th, Marine Le Pen She chose to bring the issue back into the spotlight on X. She was reacting to a statement made by Daniel Baal, president of Crédit Mutuel, on RTL radio, and denounced the lack of loans granted by French banks to his party's future candidate. The argument is familiar to the National Rally (RN): for several years, the party has claimed to be experiencing recurring difficulties accessing credit, which it considers abnormal given its electoral strength.
The loan conundrum: between banking risk and democratic imperative
Facing her, Daniel Baal did not shy away from the political dimension of the issue, calling it a "sensitive" matter from a democratic standpoint. He also reminded everyone of what bankers have in mind when they review a case: risk. The 5% threshold of votes, which determines a portion of the reimbursements, or the possibility of campaign accounts being rejected, are factors that can have a significant impact. And the state, for its part, then reimburses a portion of the expenses… but under the strict control of the National Commission for Campaign Accounts and Political Financing.
The National Rally (RN) hasn't always had French banks in its pocket, to say the least. The precedent of the Russian loan taken out in the mid-2010s left its mark, fueling persistent suspicions and controversies about its funding sources. Today, the party is highlighting its representation and the resources it derives from public aid to argue for treatment comparable to that of other parties, with a simple idea: by gaining votes, it hopes to gain normal access to credit.
One tension remains that won't disappear: a presidential campaign is prepared with teams and premises, but it also hinges on trust, both from voters and from the private institutions that provide the loans. The National Rally is already setting the stage for 2027, while the issue of the funding remains unresolved… and this discrepancy could subtly influence the pace of the upcoming battle.
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