My major complaint with the old system was that you had to be rank 9 to use the armoury (also giving you accept/kick/bank/rank permissions). To be completely honest, that's still the case, because items have to returned to the armoury before they can be lended out again. Most players won't be courteous enough or remember to put their items back when they're done (and even less likely to do so if there's a daily fee). On top of that, if you're rank 9, you can only return the items, you can't lend them to specific people, so you need to switch to any supporters you want to borrow things on.
My suggestion to streamline the system and reduce the rank requirement would be to add an additional permission level at rank 6. At this rank, on the 'items' tab of the armoury, all weapons would have their checkboxes enabled, and an additional button for 'Return selected items to armoury' would be placed at the bottom next to 'Borrow selected items'.
Two other small changes that would be nice are to allow supporters the same permissions (at rank 0) as the character they are supporting, and to allow items that you own in the armoury to be borrowed by your character.
Also, please make the leadership timer longer and reset if you play at all (i.e., on an alt), not just on the actual leader character.