Keep in mind that the loans were available to any American automobile company. That at the time the legislation was written Tesla didn't even qualify for the loans should be even more kudos that Tesla was able to qualify themselves for the requirements to receive the loans. It was originally intended as a sort of bail-out to GM, and sort of fortunate that Tesla could submit a request for the same loan program. I have no idea why Fisker didn't qualify (or even if Fisker even tried), but that is a completely separate issue too. Also note that these loans had nothing at all to do with the Obama stimulus packages, something that it has been frequently been lumped into by clueless individuals since the announcement of the loans did take place about the same time other money was being doled out to a whole bunch of other companies under other programs.
I'll agree with you on principle here that the loans should never have been offered to anybody in the first place, but to single out Tesla in this case and claim that these loans are proof that the government is somehow favoring one company over another is simply false. It is a sort of favoring American companies over foreign counterparts, but that is international business negotiations where other countries do the same thing to companies based in their country.