401 K Loan Problem

[GSR]

I have a friend who is having trouble getting a loan from his 401K fund. He has never taken a loan before and he is fully vested. Is there any possible reason why an individual would not be able to process a loan?

 

[anteater]

What kind of trouble is he having?

What does the plan document say about loans?

 

[cbg]

I can think of one reason; either the 401k plan is not set up to provide loans (not all of them do) or there is some kind of qualification for taking a loan that he does not meet. I guess that's two reasons.