If you google blogilates arm workout there is a great one. Some of the exercises seem odd but I did it and for the first time ever saw muscles in my arms!! I could see them later that day. It's hard but imagine if you did it even just a couple of times a week. I want to build up to doing it daily
There are a lot of exercises that can help eliminate arm fat. Check out YouTube for free videos. Google something like "exercise to lose arm fat" or something like that.
Usually a sign of loose skin, use a firming lotion like Nivia Toner Moisturizing Lotion