No it won't be a loose wire I'd say it maybe worn out. They are very cheap and easy to replace. The only thing you can check is that the ribbon cable is connect between the drive and mainboard. I can find a new drive for you but we need to see if it has and IDE cable picture >>
Google Image Result for http://www.eutronix.com/IDE_cable2.jpg or a serial ata connector picture >>
Google Image Result for http://www.satacables.com/assets/images/straight-to-left-sata-cable.jpg