Before relying on the loan in an application or final transaction account.
Clarify security before funds move
Settle the collateral before the money moves, because the sequence is itself part of the evidence. Once a deposit is released under an agreement whose security terms are still being negotiated, the buyer is describing a capital position that can change afterwards, and that reads as uncertainty rather than commitment. A workable order of events runs: agree price and security package; assemble the buyer's own funds and document their lawful origin; place the deposit on escrow terms that put it beyond unilateral recall; sign the note and the security instruments; close; then build the application on documents that have already taken effect.
Allow real time for the parts nobody can rush - tracing funds through several accounts, preparing projections the seller's historical figures will actually support, and confirming who owns what at closing. A seller's preferred closing date is commercial pressure, and it cannot convert collateral over enterprise assets into qualifying capital, so a timetable with no room to redraft is a risk to the transaction as much as to the application. If terms change after filing, deal with the change then; the earlier account stops being accurate the moment an amendment is signed.
Sequencing changes none of the elements: treaty nationality for the investor and for at least half the enterprise's ownership, capital lawfully sourced, irrevocably committed and at risk, substantial in proportion to the total cost of acquiring or creating the enterprise, a real operating business that is more than marginal, and an investor who develops and directs it — held in a temporary status that carries an intent to depart and opens no direct path to permanent residence.