Hey, we librarians are firm believers in not reinventing the wheel.
So if you work for a library who has a program like this, or helped implement a program like this - Macaire would certainly appreciate your insights. See her direct plea below:
I am an Adult Services Librarian in a small public library. We would like to begin loaning pre-loaded e-readers to our patrons, and are attempting to put together a proposal for purchase and all policies related to lending. I have been charged with gathering information from other libraries that already have an e-reader lending program in place. I would love to hear from librarians who would be willing either to take the time to answer a few questions via email or to chat with one of our staff members by phone. If you would like to help us out, please just send me an email with your contact information and preferred method of contact.