The club is threatened with administration largely due to owing £15m to Lithuanian bank Ukio Bankas, which faces a bankruptcy hearing.
Locke, however, has said that the club's owners have reassured him that he will be able to bring in players as normal.
"I'm sure the directors will let us know if anything happens," PA Sport quotes Locke as saying. "We've been told, hopefully, everything will be fine for next season so I can only go on that.
"I'm trying to build a team for next season and I'm pretty sure a lot of players out there would love to come here.
"I don't think the threat of administration will be bothering any of our potential targets."
Hearts are currently 10th in the SPL with one game to play.