McCain, R-Ariz., the presumptive GOP nominee for president, had his campaign nearly collapse last summer due to a lack of finances. He still lacks the financial support that helped U.S. President George Bush secure his second term in office, The New York Times (NYSE:NYT) said Monday.

Most of the big donors and fundraisers for Bush stayed out of the GOP race this time around or backed one of McCain's rivals, former New York Mayor Rudy Giuliani and former Massachusetts Gov. Mitt Romney.

Many of the Bush supporters who raised funds for the president said they either lack the enthusiasm for McCain they had for Bush or simply lack the passion to dive back into the battle for money, the Times said.

McCain's camp did, however, secure the help of Bush's chief 2004 fundraiser, Mercer Reynolds.

Available finance records show McCain gained some momentum once his candidacy picked up steam but his latest filings from February show him at $60 million in contributions compared to Sen. Barack Obama, D-Ill., who raised nearly $200 million during February.