Loft does not accept sketch2 in the add sketch dialog box.
I cannot tell you what is wrong with your geometry on sketch two... However..
Creating a new sketch on that plane and projecting only the outline (no construction lines) produces a result that works for me.
The odd thing is it can be used for extrude, so the profile is clearly closed as should be..
There is a disconnect at the point shown below. I was not able to add a coincident constraint until I changed the .750 dimension to driven, then it becomes usable for Loft.
The reason why it works for Extrude but not for Loft, as @Anonymous noted, is because the Loft tool still uses the old profile recognition, which requires point coincident continuity through the whole profile; Extrude uses the new profile recognition, which does not. At least this seems to be true in Inventor 2020; I didn't try it in any later version.
Sam B
Inventor Pro 2021.2.1 | Windows 10 Home 2004
LinkedIn
You had a rather large number of extraneous dimensions (see Attached).
This could be simplified even further with no duplicated dimensions.
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