{"ok":true,"canonical_url":"https://dealroom.so/glossary/assignment-of-claims","api_url":"https://dealroom.so/api/public/glossary/assignment-of-claims","data_freshness":{"sba_records_through":"2026-05-31","fdic_records_through":"2026-03-31","dealroom_last_updated":"2026-06-15","timezone":"America/Chicago"},"source_summary":["Public SBA 7(a) loan records","FDIC institution data","DealRoom lender and franchise enrichment"],"term":{"slug":"assignment-of-claims","term":"Assignment of claims","group":"Doing the deal","definition":"This is a legal transfer of the right to receive payment from a contract to another party, often a lender. It's how your lender secures their interest in the business's receivables.","what_it_means":"In an SBA loan, your lender will require an assignment of claims for certain assets, like accounts receivable, to secure the loan. If the business has government contracts, this process is governed by the Federal Assignment of Claims Act and requires specific steps to make the assignment valid.","url":"https://dealroom.so/glossary/assignment-of-claims","official_sources":[],"related":[{"slug":"federal-assignment-of-claims-act","term":"Federal Assignment of Claims Act","url":"https://dealroom.so/glossary/federal-assignment-of-claims-act"},{"slug":"government-contracts","term":"Government contracts","url":"https://dealroom.so/glossary/government-contracts"},{"slug":"accounts-receivable","term":"Accounts receivable","url":"https://dealroom.so/glossary/accounts-receivable"},{"slug":"ucc-filing","term":"UCC filing","url":"https://dealroom.so/glossary/ucc-filing"}],"related_questions":[{"question":"How does a collateral assignment of life insurance protect a lender?","url":"https://dealroom.so/sba-7a/questions/how-does-a-collateral-assignment-of-life-insurance-protect-a-lender"},{"question":"What if the business I want to buy has pending litigation or unresolved legal claims?","url":"https://dealroom.so/sba-7a/questions/what-if-the-business-i-want-to-buy-has-pending-litigation-or-unresolved-legal-claims"},{"question":"When does the SBA typically mandate collateral assignment of life insurance for a business loan?","url":"https://dealroom.so/sba-7a/questions/when-does-the-sba-typically-mandate-collateral-assignment-of-life-insurance-for-a-business"},{"question":"How does a lender ensure proper collateral assignment of life insurance on multiple key principals?","url":"https://dealroom.so/for-lenders/questions/how-does-a-lender-ensure-proper-collateral-assignment-of-life-insurance-on-multiple-key-pr"},{"question":"When is collateral assignment of life insurance required for principals on an SBA 7(a) loan?","url":"https://dealroom.so/for-lenders/questions/when-is-collateral-assignment-of-life-insurance-required-for-principals-on-an-sba-7-a-loan"},{"question":"How does a recent civil judgment (e.g., from a small claims court) affect my SBA 7(a) loan eligibility?","url":"https://dealroom.so/sba-7a/questions/how-does-a-recent-civil-judgment-e-g-from-a-small-claims-court-affect-my-sba-7-a-loan-elig"}]},"caveats":["Definitions represent DealRoom's plain-English interpretation for buyers; verify regulatory terms against the official SBA and eCFR sources listed.","Not legal, tax, or financial advice, and not an SBA eligibility determination."],"citation":{"label":"DealRoom.so Glossary — Assignment of claims","url":"https://dealroom.so/glossary/assignment-of-claims","source_type":"DealRoom Data"}}