The government has launched a new scheme to help residents prevent their local pub from closing.
The £1.5m fund was today announced by community pubs minister Marcus Jones. He said the pot of money, to be known as the ‘Pub Loan Fund’, was intended to help community groups take over the running of “much-loved” locals, by providing small loans to start feasibility work, pay for lawyers’ fees or get materials for refurbishment.
Jones said: 'British pubs have always been at the heart of local communities, with people getting together to enjoy good company and conversation over a pint of beer or glass of wine. But they also support thousands of jobs across all areas of the country, boosting the economy by £21 billion a year.
'Now we’re giving our communities the chance to be at the heart of their local with the support they need to put their plans for running a pub into action.'
The announcement comes on the back of measures for local people to protect valued buildings or land that is put up for sale as an ‘asset of community value’, giving them six months to raise funds to purchase it. The government says that 800 pubs have already been listed since the measure was introduced under the 2011 Localism Act. Further details on the Pub Loan Fund, will be announced in due course.