Mike and Rachael Felske – North Star Lake Resort
Awarded MBFC’s VetLoan Advantage Rebate

(Pictured: Mike Stearns, Vice President – MBFC, Mike and Rachael Felske – North Star Lake Resort)

MBFC is honored to present Mike and Rachael Felske of North Star Lake Resort MBFC’s VetLoan Advantage Rebate of $3,000. This rebate is part of MBFC’s Strategic Initiative of the National Association of Development Company’s (NADCO) VetLoan Advantage program. MBFC is the only Certified Development Company in the upper Midwest to offer a rebate to Veteran business owners that are active or retired members of military service as a way to honor their service to our Country. North Star Lake Resort in Marcell, MN is owned by Mike and Rachael Felske. Mike Stearns, Vice President Business Development of MBFC presented the rebate at the resort.

The Felske’s worked with MBFC on the SBA 504 loan project to purchase the real estate and furniture/equipment of the resort which is located in the heart of the Chippewa National Forest, 26 miles north of Grand Rapids, MN on North Star Lake. The resort is the largest on the lake with 17 cabins and 2,400 feet of shoreline. The resort even has a heated pool!  Doug Taylor with KodaBank in Bemidji, MN partnered with MBFC on the project as the lead bank.

Rachael Felske joined the MN Army National Guard in 2001 and served until 2013. During that time, she served one combat tour to Iraq from 2006-2008. Mike Felske joined active-duty Army in 1994 and served until 2002. After a break for college, Mike moved back to Minnesota and joined the MN Army National Guard and retired after 20 years of total service at the rank of E-8. During those 20 years, Mike was deployed 4 years to combat zones as well as serving a year tour to South Korea.

Thank you Mike and Rachael Felske for your military service to our Country!

For additional information about benefits for veteran business owners, contact your MBFC Business Development Officer today by visiting our website at www.mbfc.org.