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So I read that there can only be one loop and In my build so far I have a corkscrew. The rules don't state that the loop has to be vertical or horizontal and i don't want to loose points if I build another loop because there can only be one. Is there any rule against corkscrews being considered as loops?

The loop height is defined in 3.k.iii "The height of the Loop is defined as the vertical distance from the POI to the highest inside point of
the Loop." My interpretation would be, you could have a "corkscrew" or some non-vertical loop, but you would only be awarded points based on the vertical distance, not the full diameter of the corkscrew.

oh ok thank you

But remember that your "going up" track and your "going down" track have to touch. If you've built a corkscrew, then your tracks don't touch, and it won't qualify as a loop.