Most employers allow only one 401(k) loan at a time, and you must repay the loan in full before taking another 401(k) loan.
However, some employers may allow multiple 401(k) loans as long you don’t exceed the maximum loan limit i.e. half of your vested balance up to a maximum of $50,000. You must make loan payments to both 401(k) loans at the same time to avoid defaults.