A new Alaska law eliminates contract clauses that block small businesses from using their customer payments as loan collateral—and most retailers don't know it exists.
Most Alaska retail owners don't realize their customer contracts may contain a hidden barrier to borrowing: anti-assignment clauses that forbid them from pledging accounts receivable as collateral. Senate Bill 252, passed in the 2026 session, changes that.
Here's what you need to know.
SB252 amends Alaska's Uniform Commercial Code to render anti-assignment clauses legally unenforceable when a small business wants to use its accounts receivable, chattel paper, or payment intangibles as collateral for a loan. In plain terms: if your customer contract says "you can't pledge this invoice to a lender," that clause no longer holds legal weight under Alaska law.
The same applies to clauses that treat such a pledge as a default—meaning a lender can't be penalized for securing financing this way, and neither can you.
Accounts receivable financing is a common lifeline for retail businesses managing seasonal cash flow, inventory purchases, or unexpected expenses. Before SB252, a customer contract's anti-assignment clause could block you from using that tool entirely—even if you owned the right to collect the payment. You'd either have to negotiate with each customer to remove the clause or find other, often more expensive, ways to borrow.
Now, those contractual barriers are gone. You can pledge your receivables to a lender without customer consent or fear of breach-of-contract claims. This expands your financing options and gives you faster access to capital tied up in unpaid invoices.
The change is codified in Section 144 of SB252, which adds language to Alaska Statute 45.29.406(d). The law takes effect with the Act itself, which was passed in the 2026 session. Transitional provisions are found in AS 45.36.20 for any contracts or secured transactions already in place.
If you're reviewing older customer agreements or existing loan documents, the transitional rules ensure clarity about which version of the law applies to your situation.
Review your customer contracts—especially those with large or regular purchasers—to identify any anti-assignment language. While these clauses are no longer enforceable, knowing they exist helps you understand your financing options. If you've been turned down for receivables-based financing in the past because of such clauses, it's worth revisiting that conversation with your lender.
You don't need to renegotiate existing contracts; the law handles the unenforceability automatically. But if you're drafting new agreements, you can now confidently pledge those receivables without worrying about customer-imposed restrictions.
The Alaska Retail Association and other trade groups have published detailed guides to SB252's impact on small business borrowing. A free, retail-specific summary is available through most local business development resources.