LIDC’S EXECUTIVE VP RETIRES

Irving Borman plans to finish writing a book about his interesting and varied life, starting from his childhood in Harlem and focusing on his career as a Jewish black man in the Long Island business arena. After a distinguished, 40-year career in banking, the last 14 as Executive Vice President with Long Island Development Corporation (LIDC), LI's premier small business lender, Borman will soon be saying goodbye to banking. LIDC has lent over $600 million in direct dollars and leveraged an additional one billion dollars in loans for Long Island companies making long term, low fixed rate second mortgage loans to small businesses acquiring and renovating buildings. Irv has supervised a professional staff of lenders and been responsible for finance programs, processing, approval, closing and servicing a portfolio of some 650 loans under such programs as SBA 504, EDA Targeted Industry, Hempstead Revolving Loan Fund and others.
Prior to coming to work for LIDC, Borman served for several years on LIDC's board of directors and was Sr. VP of National Westminster Bank. His plans include spending considerable time cultivating his award winning gardens and continuing his work with the Jazz Knights, a musical group which he helped found.