I've been working at Target for almost 10 years now and have been able to take out a general purpose loan from my 401k with no problem. A buddy of mine who started work around the same amount of time but only started contributing to his 401k at the beginning of this year, doesn't have any available loan option. I'm not sure what the requirements are since I never dealt with it. He has 1000 dollars in there so far with 650 being his own contribution. He's worked over 1000 hours ebviously but I don't know if it only counts once you start contributing. If anyone knows I appreciate the help!