Mortgage manager Firstfolio announced yesterday that it had signed an agreement for a new A$23 million funding facility with Commonwealth Bank.The three-year facility will allow the company to repay debts to ING Direct and Adelaide Bank, as well as pay out vendor financing arrangement that were part of two recent acquisitions.The company will retire $8.9 million in debt owed to Welas Pty Ltd, a company associated with a non-executive director, Tony Wales.Firstfolio is a highly acquisitive company and has made a number of takeovers in recent years. A spokesman said that after the repayment of debt the balance of the facility would go into working capital.With the new facility in place, Firstfolio has funding from Commonwealth Bank and a $5 million credit line with NAB's third-party funding arm, Advantedge.