The club has been awarded a grant of £250,000 from the Football Foundation’s Football Stadia Improvement Fund, while another multi-million pound bid could be close to being rubber stamped.
“We’re just waiting to finalise the funding through the Housing Infrastructure Fund,” Mr Newton said of a further bid, which has been made in conjunction with Boston Borough Council.
“Last February we were shortlisted for funding of £3.5m for the Quadrant development, and some of the funding can be used towards the stadium.
“We are currently going through the due diligence process on that and are hoping to have it finalised soon.
“We are also finalising a bid to the Premier League and FA Facilities Fund for funding towards the 3G pitch and associated changing, parking and community facilities.
“Commercial sales are also progressing.”
United first announced plans to move from their town-centre Jakemans Stadium home to a new site in Wyberton in November 2013.
The new stadium - which would be part of a £100m project including housing, commercial properties, restaurants and a sportshall as well as infrastructure - was originally estimated to cost £8.5m, but that figure has risen to approximately £11.5m due mainly to rises in the price of steel and concrete.
This has seen the club have to explore opportunities for additional funding.
But now Mr Newton - who owns property development company Chestnut Homes - hopes to make important strides forward.
He added: “Things are now dropping into place, with the view to recommencing structure work on the new stadium in the near future.
“We need every element coming into the the project, costs have increased to over £11.5m and the longer we wait the more the figure goes up.
“The sooner we push the button the sooner we can fix the prices.”