I'd say it's most likely that you are not threading the bobbin through its tension mechanism properly. Loops on top of fabric mean either the bobbin tension is too loose or the top tension is too tight. Assuming your photos are showing the top of the fabric, the "loops" are the bobbin thread being loose and pulled up by the top thread, which has more tension on it. I would return the top tension to its original setting and check the manual to make sure that you are threading the bobbin correctly. From your photo it seems to me that the direction of the bobbin thread is correct. I don't have your machine, but it seems to me the bobbin thread is not being pulled all the way through the tensioning area; it needs to come all the way to the front and exit perhaps at the notch at the front left? Or maybe it needs to be pulled even further around? Check the pictures in your manual; they should be explicit about this.
Edit: I found a couple of Youtube videos that show how to thread the bobbin on your machine:
http://www.youtube.com/watch?v=wKssuOo3VbM
http://www.youtube.com/watch?v=UXSIEoGv_dE