Have you read Kill Everyone? It has charts which explain this kind of thing in great detail. I don't have the book in front of me, so I can't look it up, but I'd say with an M of 6.6, this is a push. If you run into AQ or AK+, bad luck. If you raise small and get reraised by pocket 9's, you will make a terrible fold.
I spaz-shove as much as anyone, but shoving here in a $16, especially one described as "slightly loose" is a definite leak. You need a significant minimum edge to make a push here and you don't have it. Your edge as a good player increases exponentionally as the blinds go up from here...don't give that up to flip coins with a 0.01% edge at 100/200.
I fold here also from UTG, you be suprised what people call with. You say they are slighly loose. So I would expect most PP's to call and probably down to A/9
This is an easy fold. The ranges some of the posters have put everyone on are waaaaaayyyy to tight for the 16's. Loosen up the ranges in the SngWiz and it is clearly a fold.