The Loki and T3s in general share the feature that in their current state they really shouldn't be flown by newbros. They're expensive and if you make a mistake and die in them you lose SP - ie you have to Skill inject to get it back quickly, which means yet more ISK out of the wallet or retrain normally (which wastes training time). By the time you
can fly them properly with good skills, you should generally be able to fit them yourself and chances are that you'll be flying them in wormhole space. So IMO, when you have 30mil SP, multiple billions of ISK in the bank, and six months of actual EVE experience of PVP/PVE etc, then you can consider getting in the Loki and its T3 counterparts. Ideally you also need to use Faction and Deadspace Modules to get the most out of them.
With that disclaimer out of the way I can share a fit which just sneaks in to be just slightly over the hull value of the Loki.
[Loki, WH PVP Small Gang Brawl Armor Web Loki]
1600mm Steel Plates II
Damage Control II
Energized Adaptive Nano Membrane II
Energized Explosive Membrane II
Stasis Webifier II
Stasis Webifier II
Warp Scrambler II
50MN Y-T8 Compact Microwarpdrive
Tracking Computer II, Optimal Range Script
425mm AutoCannon II, Republic Fleet Phased Plasma M
425mm AutoCannon II, Republic Fleet Phased Plasma M
425mm AutoCannon II, Republic Fleet Phased Plasma M
425mm AutoCannon II, Republic Fleet Phased Plasma M
425mm AutoCannon II, Republic Fleet Phased Plasma M
Expanded Probe Launcher II, Sisters Core Scanner Probe
[Empty High slot]
Medium Anti-Kinetic Pump II
Medium Trimark Armor Pump II
Medium Trimark Armor Pump II
Loki Core - Immobility Drivers
Loki Defensive - Augmented Durability
Loki Offensive - Projectile Scoping Array
Loki Propulsion - Interdiction Nullifier
Hobgoblin II x5
Inherent Implants 'Squire' Power Grid Management EG-601
Covert Ops Cloaking Device II x1
Republic Fleet EMP M x2000
Republic Fleet Fusion M x2000
Republic Fleet Phased Plasma M x2000
Nanite Repair Paste x100
Sisters Combat Scanner Probe x8
Mobile Depot x1
Loki Defensive - Covert Reconfiguration x1
Working in a small gang dynamic wormhole environment where Cloaky Interdictors can pop up at a moment's notice, this Loki laughs at them, before scram webbing them down and bashing them to pieces with Autocannons. It works for small gang ganks and short notice fights. Do not take this Loki out on Fleets with Logi, as your Nullification subsystem bonuses is pointless when in Fleet warps. Autocannons for instant damage and a Probe Launcher for that occasion when a wormhole collapses on you, and Mobile Depot in cargo for refitting to Covert Subsystem when you need to travel through hostile space to get back home. You also have an empty utility highslot which you can fit to flavor - a small Nosferatu for that extra bit of cap, for example.