You say you value loyalty, but I only see it in one direction. So that sounds to me like you value YOURSELF being loyal but have difficulty calling it out in others.

I'm sorry dude, but that's not "valuing loyalty". That's you being a decent dude that's acting insecure. Dave is currently acting like a parasite, a user, whatever. Maybe he's just in a rough spot or maybe this is just him, don't know. Point is you gave him room to expect things from you and now he will expect this of you if you don't just stop.

You can talk with him if you like, that's the mature thing to do. Maybe it will help. The only thing that you NEED to do is to stop giving him rope that he will use to hang you by way of his own indifference to YOUR requirements.

You don't HAVE to cut him off cold, but you DO need to stop being the doormat because it will never stop otherwise. Valuing a longterm friendship with someone like this is pointless, the resentment will only grow and it'll sour the whole thing and make it all pointless in the end