Invoice Finance For Neutral Vendor & GRI ⋆ MSP Factoring

Last updated: November 6th, 2026

Neutral vendor invoice finance is invoice finance or factoring for recruitment agencies that supply temporary staff through a neutral vendor or managed service provider (MSP), such as GRI, and invoice the MSP rather than the end client.

If you place temporary staff through a neutral vendor like GRI or Neuven, you may need a specialist funder that offers invoice finance for neutral vendor contracts, because many mainstream providers will not lend against MSP debtors.

Geometric Results (GRI) is one of the largest neutral vendor managed service providers in the UK, handling temporary recruitment spend for public sector and private clients through a large panel of partner agencies.

Agencies supplying through a neutral vendor still have to wait for invoices to be paid. This puts a strain on cash flow, because staff need paying before the invoice is settled.

With the right funder, neutral vendor funding through invoice finance and factoring can release up to 100% of unpaid neutral vendor invoices or timesheets.

If you do not work through a neutral vendor and need funding for general temp, contract or permanent placements, see our main guide to recruitment invoice finance and factoring.

Apply now for a neutral vendor invoice finance quote or call 0161 546 9128.

Contents hide

1 Invoice Finance For Neutral Vendor and MSP Invoices

1.1 Neutral Vendor Invoice Factoring

1.2 Neutral Vendor Invoice Discounting

2 Neutral Vendor Funding for Invoices and Timesheets

2.1 Which Neutral Vendors Can You Factor Against?

2.2 GRI Invoice Finance and Factoring

3 FAQ: Neutral Vendor Invoice Finance Frequently Asked Questions

3.1 What Is A Neutral Vendor?

3.2 How Do Neutral Vendors Make Money?

3.3 What Is A GRI Recruitment Agency?

3.4 List of UK Neutral Vendor Providers

3.5 Did De Poel Change Name to GRI?

3.6 How to Login to etips and check outstanding invoices?

4 Apply for Neutral Vendor Invoice Finance

Invoice Finance For Neutral Vendor and MSP Invoices

When you place temporary staff through a neutral vendor managed service provider (MSP), invoice finance is harder to secure. This is mainly due to:

High debt concentration with one single debtor, the MSP
Invoicing the MSP instead of the end client
Contract terms with the MSP, such as pay when paid clauses

Because of these issues, some high street banks and mainstream invoice finance companies will not provide factoring against neutral vendor invoices.

Temporary recruitment agencies can still get invoice finance from specialist funders that understand neutral vendor contracts.

We can also help with RPO invoice finance, which works in a similar way to invoicing through an MSP.

Neutral Vendor Invoice Factoring

We work with a number of factoring companies that fund agencies working on neutral vendor contracts. Typical features include:

Release 80% to 100% of unpaid invoices
New start ups accepted
Timesheets funded
Access funds from timesheets and invoices within 24 hours
Credit control assistance

As an independent factoring broker, we can find lenders that accept neutral vendor and MSP debtors.

Read more on our invoice factoring page or apply now.

Neutral Vendor Invoice Discounting

If your agency turns over more than £250k a year, you may be able to use invoice discounting against your neutral vendor invoices. Typical features include:

Confidential invoice discounting
In house credit control
Funding of bulk timesheets
Release up to 100% of unpaid invoices and timesheets

Read more on our invoice discounting page or apply now.

Neutral Vendor Funding for Invoices and Timesheets

One of the main problems for agencies on neutral vendor contracts is getting paid. It is common to wait 14 to 45 days after an invoice or timesheet has been approved.

That creates a cash flow gap when staff wages are due. Neutral vendor funding, through either factoring or discounting, closes that gap by paying you against the approved invoice instead of making you wait for the MSP.

Which Neutral Vendors Can You Factor Against?

Individual contracts affect the terms you can get, but most neutral vendor invoices can be factored.

This includes the following large UK neutral vendor providers:

Geometric Results (GRI)
TFS Healthcare
Neuven (Venneu portal)
NLG RPO (Infinite MP portal)
Bloom Procurement Services
Central Recruitment Services (CentralAxis)
Constellia
Nepro
Retinue Solutions
OPERAM Managed Solutions

GRI Invoice Finance and Factoring

GRI invoice finance lets agencies supplying through GRI in the UK draw funds against approved GRI timesheets and invoices, rather than waiting for GRI to pay. We can arrange invoice finance for GRI suppliers through funders that already accept GRI as a debtor.

GRI invoice financing works in the same way as any factoring facility. You raise the invoice, the funder advances most of it, usually within 24 hours, and the balance less fees is released when GRI pays.

Factoring can provide a long term answer to cash flow pressure and support your agency as it grows.

Release up to 100% of unpaid invoices
Funds within 24 hours
Revolving credit facility

Apply now

FAQ: Neutral Vendor Invoice Finance Frequently Asked Questions

Here are some frequently asked questions about neutral vendors and the finance available to agencies that work with them.

What Is A Neutral Vendor?

A neutral vendor is a managed service provider (MSP) that manages staff resourcing for a client but does not do the recruiting itself. The recruiting is done by a panel of recruitment agencies, picked and managed by the neutral vendor.

Examples of neutral vendors are Geometric Results (GRI) and NLG RPO.

How Do Neutral Vendors Make Money?

A neutral vendor manages the whole recruitment process for large organisations and the public sector. The recruiting is done by a panel of approved agencies, which are charged a fee by the managed service provider.

The agencies on the panel hire the staff for the end client, but all communication and billing goes through the neutral vendor.

Many neutral vendors pay their agencies 14 to 45 days after the invoice or timesheet is approved. This causes cash flow pressure, which invoice finance can solve.

What Is A GRI Recruitment Agency?

Temporary recruitment agencies can place candidates through a managed service provider (MSP) like Geometric Results (GRI). Rather than working directly with many organisations, you fill roles through GRI.

You can find out more on the GRI agency website.

List of UK Neutral Vendor Providers

Here are some of the biggest neutral vendor managed service providers operating in the UK:

Geometric Results (GRI)
TFS Healthcare
Neuven (Venneu portal)
NLG RPO (Infinite MP portal)
Bloom Procurement Services
Central Recruitment Services (CentralAxis)
Constellia
Nepro
Retinue Solutions
OPERAM Managed Solutions

Did De Poel Change Name to GRI?

In January 2018 the UK neutral vendor De Poel was acquired by US company Geometric Results Inc.

Later that year, in June 2018, De Poel was rebranded as GRI.

How to Login to etips and check outstanding invoices?

If you are looking to get invoice finance for your GRI invoices, you will need a list of outstanding invoices to send to the funder.

You can access your GRI invoices from the etips login area using this link https://e-tips.com/

Apply for Neutral Vendor Invoice Finance

As an independent invoice finance broker, we search the market to find funders that accept neutral vendor and MSP invoices.

We do not charge any broker fees for invoice finance.

Fill in the form below or call us on 0161 546 9128 (Monday to Friday, 9am to 5pm).

Simon Johnson

Simple, easy and professional. Listen to business requirement and found the perfect funding solution. Thank you...!

Ihsan Gungor

Great help and fast

Hassan Raza

Many Thanks Marcus for arranging funds for my business despite having several challenges on credit file.

Craig Barclay

Amazing service - Thank you Marcus first class

Shazad “Shaz” Khan

The service is undecrible. I had a lot of issue through other brookers but it has been dealt professionally by Marcus. The service i received is more then beyond expectations.

Gordon Angus

I can't recommend Bolton Business Finance Ltd highly enough. They were able to get us excellent terms and a higher loan amount than expected - far better than any other broker. Marcus was very friendly, helpful and supportive throughout the application and I will definitely use their services again.

Gerad Barclay

Exemplary Business Finance Service Bolton Business Finance and its MD Marcus Wright are professional and an example to others in the industry. Strongly recommended. Most business people searching for a business finance broker will have dealt with Estate Agents, Recruitment Agencies, or both. You know the types; recruitment “consultants” that try to palm you off with unsuitable candidates having doctored the CV to look great, or estate agents that assure you the enquirer is a “Cash Buyer” or in a fabulous position when in fact they have not even got an offer yet for their overpriced property. Many Business Finance Brokers are as above, probably worse. They work the numbers game of collecting applicants then punt the applicants around the types of lenders that want to tie you down with crazily high interest rates, unviable repayment terms and the ubiquitous PG. My advice is to look out for these shady practitioners. They want your personal ID, 6 months Bank Statements and annual accounts before even discussing solutions to your problem. They have only a passing conversational interest in your business. Be especially alert to the additional introduction “Fee” for getting to offer stage. One such broker added a 5% fee unto an already sky-high rate of interest front-loaded unto the principle, no reduction for early settlement, and of course the dreaded PG. Try getting 5% Interest per year on deposit of £200,000…. It is currently almost impossible yet, some brokers want 5% (£10,000 on that £200K) just for the introduction. That’s 3–5 times what Estate Agents will charge, and they typically must do some work and wait 6 months for the transaction to complete. The broker may well have punted your most personal details by email to any number of lenders leaving you exposed in many ways. Marcus did none of the above. He listened to the requirements. Noted preconditions, made no promises but came back very quickly with imaginative propositions. Very personal details and confidential information were requested only when there was agreement in principle. I will certainly use again.

Tyler Homeyard

Great company to deal with. Marcus is a great guy and knows what he’s doing. They helped me with factoring my invoices on Courier Exchange. Very seem less process. Highly recommend.