Is it possible to loop through two things at once?

What im trying to do is loop through workspace and serverstorage at the same time. So is it possible?

Yes this is possible. I would recommend using coroutines.

Example:

local firstLoop = coroutine.wrap(function()
	for _,v in pairs(game.Workspace:GetChildren()) do
		print(v.Name) 
	end
end)
firstLoop()

local secondLoop = coroutine.wrap(function()
	for _,v in pairs(game.ServerStorage:GetChildren()) do
		print(v.Name) 
	end
end)
secondLoop()

Coroutines basically allow code to run without having to yield the code after it.

Here's some more info if you need more help: https://developer.roblox.com/en-us/api-reference/lua-docs/coroutine