John Woodward's side were ahead inside eighty seconds when Danny Pittaway fired home from a Gianni Dainty cross.
However, the vistors twice went close with long range efforts and drew level in the 25th minute with a super strike from Callum Riley.
Sphinx played some good football in the second half and went back in front in the 58th minute. Luke Elvridge who worked hard up front, dispossed the visiting keeper and played the ball inside to give Declan Price the simpliest of tap-ins.
Pittaway struck the bar in the 73rd minute but in the dying seconds, Loughborough counter-attacked and the ball was played inside to Joey Godhania who slipped the ball past the advancing Tommy Hindmarsh to snatch a late point.