Ted Cruz: “Hunter or Jim Biden had any collateral? $14 million of…”

“I borrow money to buy a car. The collateral on the car note is the car. If I don't pay the payments, they take the car back. Is there any indication that Hunter or Jim Biden had any collateral? $14 million of loans. Did they own $14 million of collateral that would serve as the basis for those loans? Well, and I understand loans. Thank God. There's no loan documentation. We've asked for loan documentation. They won't produce loan documentation. It doesn't appear they had anywhere near $14 million in assets.” (14:06–14:20)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.