As a loose player myself, what I hate most is *aggressive* tight players who aren't intimidated by my raising. And the number one place I hate aggression is preflop, which is where players with tighter hand selection have a bigger edge on me. Don't be afraid of the loose players preflop, and play right back at them strongly when you have a hand.
So if you want to punish your loose friends, start re-raising a lot more preflop. Since their raising range is probably very loose, you want to be re-raising them with a wide range as well. AJ+, KQs, and 99+. And use their aggression to your advantage. Start check/raising them, or limp/3-betting from early position preflop. If they're betting more often than they should be, use this to your advantage.