Amazon has posted a note to Kindle users in the Kindle community forums confirming that lending ebooks will come to the platform later this year. This has been a sorely missed feature since the device's introduction. Before you get to excited, there are some caveats here.
The loans will only be for 14 days and you can only loan a book once. It was unclear if that meant once per recipient, or once for the life of the ebook. While the book is lent out, the lender will be unable to read it. Also, not all books will be available for lending. It will be up to publishers to enable this feature; much like the Kindle text to speech ability.
All the restrictions on this makes the whole endeavor much less appealing. We don't see why you can't just transfer your license for a book to someone else and be done with it. Certainly Amazon could handle that on the back end. If we have to rely on publishers to enable lending, it's unlikely it will be widely available.