Organiser of the event, Paul Lewis, would have to pay over ?20,000 to bands for accommodation and costs.
Last year he paid ?17,000 of his own money, which was not guaranteed to be paid back by revellers on the night.
“It is by no means the end of things,” Paul told the Cornishman, “But the safety net of sponsorship or grant money is badly needed. I have tried to get sponsors but no one seems interested. I am investigating funding sources.”