Companies have come forward to offer cash and many are giving their services for free to ensure the event does not incur heavy debts.
Bourne Round Table, which organises the three-day festival in June, is delighted with the community's response.
Spokesman John Christie said: "It is absolutely fantastic for anyone to help out with the festival.
"We need this sort of funding and help, because without it the festival wouldn't be able to go ahead. The only way the festival can move forward is with people's help."
In 2006, the festival made a £6,000 loss but the Len Pick Trust donated £3,800 to help balance the books. Last year it was cancelled because financial backing could not be secured.
Publishing firm Warners Midlands, Waterside Garden Centre and scrap metal merchant BW Riddle are among the companies that have offered financial support to this year's event, which runs on June 6, 7 and 8 at the Wellhead Field.
Martin Bradley Body Repairs and Intone Designs have sponsored barrels which will be displayed at the event carrying the company name. Motorola Roadphone Communications is providing lighting for the event at a reduced cost and
AP Homestyle is sponsoring
T-shirts for event staff.
Bourne Town Council supported the event with a £500 grant and more money will be raised from a £1 entry charge for each day.
But Mr Christie said more help was needed.
He said: "Obviously, any money or help will still be helpful – we have still got a long way to go.
"We would like someone to sponsor the entry wristbands, which we hope we will be able to provide in shops before-hand. We also need businesses to donate raffle prizes."
Volunteers are needed to help as well. Mr Christie said: "We are always in need of volunteers to do jobs like helping out behind the bar. There are just 10 of us on the Round Table and it is a lot for us to do."
The festival will have beer stands, funfair, Battle of Britain Memorial flypast, human table football, a free golf event, craft stalls and a live band stage.
If you can help, call 07904 343514.