They won't ""take"" the loan.. You already received that money... but the balance would come off your total market value... and you will have to pay tax on that amount.
Hardhships and loans are only for active employees.
You can withdraw the money as a terminated employee.. but you will have to pay tax and penalty on this..... (most plans only allow you to take the entire balance once you are terminated) But each is different... best bet is to call the administrator.. they can give you some estimated dollar amounts on what you would receive, and the taxes / penalty amounts, etc....(they will take the 20% federal tax upon distribution)
That loan will default within a few months even if you do not w/d... and the tax and penalty will be due next year..
If you have a large balance, and they require that you take it all... you may want to take some in cash.. and roll some to an IRA.

Yes, but you will have to pay a penalty. Depending on what the 401k plan says the penalty will be. It might not be much but if you haven't had it that long, it will be more.