We use it too! Our foster gets a little bit of irritation on his nose (he's an English bulldog) when we put coconut oil on it regularly it looks great. Coconut Oil has so many great qualities-antibacterial, antiviral, and anti fungal (the one I'm most concerned with is yeast).
There's a website, I think it's called www.organicfacts.net
that lists all of the benefits of coconut oil. I'm sure there are others too.