Community groups will be given up to £250,000 to help their struggling pubs in the area and in exceptional cases up to £1million matched funding will be available to help establish community owned sports clubs or sports grounds that are at risk of loss from the community.
John Harrison, chairman of Guilden Morden Community Pub Ltd owners of the pub says: 'We would've loved it if we could've had that deal but we're already beyond that stage.'
The community bought the pub in November 2018 after it had been closed for six years.
They spent six months refurbishing it and leased it to tenants who opened it again in 2019.
Harrison says the total cost in buying the pub was in excess of £400,000.
He says: 'We raised £250,000 in share issue and got £100,000 in half loan and half grant and then borrowed the rest. We borrowed the rest from Co-operative & Community Finance.'