T-SQL, 239 182 162 159 153 152152 149 bytes
Golfed:
DECLARE @c CHAR(5)='|/-\',@s CHAR(1),@ INT WHILE 1=1BEGIN SET @=1WHILE @<4BEGIN SET @s=(SELECT SUBSTRING(@c,@,1))PRINT'Loading... '+@s SET @=@+1 END END
Ungolfed
DECLARE @c CHAR(5) = '|/-\',
@s CHAR(1),
@ INT;
WHILE (1 = 1)
BEGIN
SET @ = 1;
WHILE (@ < 4)
BEGIN
SET @s = (SELECT SUBSTRING(@c, @, 1));
PRINT 'Loading... ' + @s;
SET @ = @i + 1;
END
END