Check whether your 401(k) plan allows loans
Review the loan limits set by your plan and IRS rules
Confirm you meet any eligibility requirements
Contact your plan administrator or HR department
Request the 401(k) loan application or online loan form
Choose the loan amount and repayment term allowed by the plan
Specify the purpose of the loan if required
Submit the completed loan request
Wait for approval and processing
Receive the loan funds, usually by direct deposit or check
Make repayments through payroll deductions on schedule
Keep up with payments to avoid default or taxes
Review the impact on your retirement savings before borrowing