The capital has to be irrevocably committed before the application is decided, which usually means closing, or using an escrow whose only release condition is the outcome of the application itself. Waiting for a permit transfer before committing anything leaves the file with nothing to examine.
Commitment comes first, and the deal has to be built to allow it
Hypothetical example: Rachid is buying a linen service whose transfer depends on a state health-facility permit he does not himself control. The sequencing problem Rachid faces is common in regulated trades. He does not want to release funds until the linen permit transfers; the rule does not want to see funds that can come back for commercial reasons.
The way through is to separate the two risks. The permit risk can be allocated by price adjustment, by an indemnity from the seller, by a holdback of a modest portion of consideration payable to the seller in any event, or by making the seller responsible for operating under its own permit during a transition. The status risk can be handled by the recognized escrow structure that returns the money only if the application fails.
Once the capital is committed, the enterprise should also be visibly real and operating: premises secured, staff engaged or retained, routes running. An application filed against an idle company with money in a suspense account tends to be decided on that fact alone.