Lending and borrowing ebooks is only a recent phenomenon. Amazon just recently allowed their Kindle ebook owners to lend their books out to friends. Barnes & Noble has allowed it for quite some time.

However, when it comes to finding partners to lend books to and from, things can become complicated.

This is where a new Ebook Lending Library comes into play. The website, which launched on Monday, allows users to post ebooks that they have available to lend out, as well as ebooks that they are looking to borrow. Other users can search the database and lend out or borrow books from each other.

The way the site works is that it rewards points to members for lending books, and members can charge others points (ebookdollars) to borrow their books.

"This keeps things fair, so that one user won't abuse the site and continuously borrow books, while not contributing to the community," explained Evan Murdock, one of the site's partners.

Points, referred to as "eBookDollars" can be earned by posting book reviews, referring new members, and making new posts in the forums.

"We aren't just trying to make it easier to lend and borrow Kindle and Nook books. Our goal is to create a useful community for those looking to lend and borrow," said Murdock.

eBookLendingLibrary.com has plans to allow its members to redeem their points (eBookDollars) for prizes and merchandise in the near future.

You can sign up for free and start lending and borrowing now at eBookLendingLibrary.com