Every company 401 k plan has a plan administrator. You would have to contact them and ask. Remember if a 401K loan is available, it is a loan and must be paid back on a regulated payment schedule. If you are laid off, you may wish to look at a self directed 401 k plan. At Self Directed Retirement Plans LLC we specialize in self directed checkbook controlled 401 k plans and advise our clients about how to properly structure a personal loan. Being laid off is actually a blessing in this case. It allows for the transfer of funds from the Co 401 k plan to a self directed 401 k plan and the layoff becomes moot.