Transfer former employer 401k to solo 401k and process Solo 401k Loan

QUESTION 1: I have confirmed from my existing 401K plan that they can do a direct rollover of my funds to a solo 401k.  I would like to find out if you accept 401K direct rollovers?

ANSWER: Yes the qualified plan rules permit for the transfer of former employer plans such as a 401k to a solo 401k.

QUESTION 2: If number 1 is possible, how long does this process take?

ANSWER: As soon as the solo 401k bank account has been setup, you can obtain the transfer-out form from your former employer which we will assist you in properly filling out to help ensure the former employer 401k funds are properly processed as trustee-to-trustee transfer to the solo 401k plan. Often times the former employer will allow for the transfer of the funds by wire to the new solo 401k bank account. If they require the issuance of check, the check will need to be made payable in the name of the solo 401k plan not your name in order to avoid distribution taxes and early distributions penalties.

QUESTION 3: If number 1 is possible, and subject to number 2, how many days/weeks should lapse before I can make a loan from the solo 401K just opened?

ANSWER: As soon as your solo 401k is funded, you can process a loan immediately as we will prepare the solo 401k loan documents and payment schedule in 24 hours.

Thnx,

Jim in San Antonio, Texas