how long does it take to get a decision on a 401k loan after application is submitted?

Answer 1

you should have a check within a week

Answer 2

Depends on company that administers the plan.

If it's a residence loan there's paperwork and some information to be checked.

But for a general loan there's not much to check. There's no credit check because this is a secured loan. They are loaning you your own money so if you don't repay it they simply report the loan to the IRS as a withdrawal and you have to pay taxes and penalties.