Yes, if the money is already spent or irrevocably committed, the enterprise is real and close to operating, and the investment is substantial relative to the bakery's start-up cost. A business plan with money still in savings does not qualify.
Start-ups qualify when the spending is real
The treaty-investor rules do not require an existing business; they require an investment in a bona fide enterprise that is a real, active commercial undertaking or about to become one. For a start-up bakery that means the U.S. company exists, the industrial unit is leased, the ovens are installed or contracted, permits are applied for and the first customers are identified. The officer distinguishes between an investor who has taken irrevocable steps and one who intends to. Money in a personal account earmarked for the bakery is intent. A paid deposit on a non-refundable equipment order is commitment. The couple's savings from the Canadian business are a lawful source, and bank statements tracing them into the U.S. company's account and out to suppliers complete the picture. Both spouses hold Canadian citizenship, so the enterprise has treaty nationality; the applicant spouse will develop and direct it as majority owner.
Hypothetical example: a wholesale bakery has incorporated, signed a unit lease and paid a non-refundable deposit for a commercial mixer, but has not yet obtained its local food permit. The first review should produce a commitment ledger showing paid, contractually owed and merely planned items. Receipts, the lease, supplier contract and permit application settle whether the venture is a real undertaking rather than an idea. The applicant must also show treaty nationality, control of the enterprise and an ability to develop and direct it. Funds should be committed beyond easy withdrawal and exposed to possible loss, while the forecast must show the enterprise will not remain marginal. Do not solve a missing operating plan by adding more uncommitted cash; the record needs both a viable business and a qualifying investment.