I would continue as you are and find a way to close deals part time until you hit break even. I would think your co-founder could take some vacation days over the next six months and get you to break even (figuring that a partial sales effort will take perhaps twice as long as a full time one). This is not a bad outcome.

The problem with F&F is that neither--unless they are qualified investors or have experience in early stage investing--are normally prepared to lose their investment. You will be relying on them for emotional support as well: it can become difficult to talk about setbacks because their focus shifts from supporting you to worrying about losing their investment.

You don't say what your product is but normally an SBA loan will require "hard assets" that a software startup won't have (compared to a restaurant or a bakery or other small retail/industrial business).

If you really want to raise a round I would talk to Angels and other qualified investors who are used to risky investments and who may also be able to contribute expertise and advice along with funds.