We know that the Bor- in Borlach's name comes from an Elvish word meaning 'faithful' (because he and his brothers remained faithful to the Elves when the sons of Ulfang turned against them). The brothers' names are addressed in The Etymologies in volume V of The History of Middle-earth, but unfortunately the name Borlach appears there in an earlier form Borlas, so we cannot be so confident about the name's second element. It is, however, very likely derived from the word lach meaning 'flame' or 'fire'.
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