You absolutely don't have to SBF to get out of the boot loop. You just need to get to the recovery. You can get there by hard resetting (power button + volume up at the same time), to get to the red Motorola logo screen then push the volume down. This is a time sensitive thing. If you push the volume down too soon it'll take you to the fast boot screen where you can't do anything. But upon reboot, if you wait 2 seconds, then push the volume down, it'll give you the option to get to the recovery where you should have a backup handy.
Yes it's as simple as waiting 2 or 3 seconds to push the volume down after you see the red Motorola logo and getting to the recovery.