Finally everyone would be able to invest in larger real estate projects that were limited and only available to wealthy individuals and institutions.

la=en - The Philadelphia Federal Reserve's regional report from April for a broader perspectiveI've worked in academia (@ UPenn and currently w/Columbia) for most of my career and the questions surrounding solvency for some institutions, cost, etc. are both legitimate and ongoing but I highly doubt it will affect large institutions like Drexel and UPenn.  

Please note that the account into which the funds are deposited must be the same type of account from which the funds were first withdrawn (e.g. withdrawal of pre-tax funds from a 401k could be deposited in a pre-tax IRA but not a Roth IRA - "like to like").Loans:Payments on a 401k loan taken under the CARES Act must be paid back starting in 2021 over a 5 year term.Here are the details regarding the loans:NEW LOANS:The CARES Act which was enacted to provide relief to individuals impacted by COVID-19 allows for increased 401k loans and more flexibility for repayment of these loans.Specifically, you must be an individual who meets one of the following conditions to demonstrate that you have been impacted by the crisis (and it will be your responsibility to retain documents in your files that demonstrates that you are a qualified individual):Individual who is diagnosed with COVID-19, with a CDC-approved test;Individual whose spouse or dependent is diagnosed with COVID-19, with a CDC-approved test; ORIndividual who experiences adverse financial consequences as a result of being quarantined, furloughed, laid off, having work hours reduced, being unable to work due to lack of child care due to COVID-19, closing or reducing hours of a business owned or operated by the individual due to COVID-19; or other factors as determined by the Treasury Secretary.On or before September 23, 2020, such individuals take a 401k participant loan subject to the following terms:Maximum Amount of the Loan: 100% of their 401k balance not to exceed $100,000.

I guess the purpose of my question was to see if there were any STL-based institutions that offer the same lending options because I'd rather go with something local if possible. 

An IRAcustodian is the financial institution responsible for record-keeping and IRS reporting requirements.

Many different lending institutions have varying degrees of criteria.

Let's assume you purchase a new property with new mortgage, your new mortgage will NOT affect previous mortgages as the banking system assumes the institution who give you the latest loan should make sure you have capability to pay all loans off.  

This person can then help you actually execute the deal while teaching you along the way:Look your deal over from top to bottom and determine if you have a "deal" (run the numbers, do local market due diligence, property due diligence, etc.)Conduct and-or participate in the negotiations  Assist with the team building process (property management selection is absolutely KEY)Create deal package/loan request package to help raise the equity and the debt (not so easy anymore)Help guide both you and the deal through the acquisitionHelp initiate and execute the business plan, working closely with the property management companyAssist/teach you how to asset manage  You can start looking for that person right here on BP.

My absolute favorite syndicator allows you to make an investment and participate in a 1031 exchange into their next deal.Best of luck to you!

You may wish to confirm that the new 401k provider will handle the ongoing compliance support such as any required 5500 filing (e.g. 5500-ez for a one-participant plan with assets in excess of $250,000), any required tax reporting (e.g. 1099-r in the event of a distribution or in-plan Roth conversion), mandatory plan updates and amendments, etc.4.