Have you pruned the tree? It blooms this time of year and if you prune it in the summer you will remove the fruiting buds. It does not too thick to me. They bloom from the end of the branches.

It looks perfectly normal to me. I would leave it alone if I were you.

As Gary said they bloom at the ends of branches. My first loquat was about 6 when I got my first full crop. My 2nd tree which is only about 4 years old hasn't began to think of producing fruit.

Here is some useful info.

https://harvesttotable.com/how-to-grow-loquats/

I would remove the dead branch on left side of trunk and possibly thin the center to allow more light through. Also remove any grass or weeds within the drip line and mulch (keeping mulch a couple of inches away from trunk) same area. This will also keep string trimmer damage to trunk at bay. There are some signs of that already. Loquats are very forgiving and really do not need much fertilizer to do well, depending on your soil type. The area with several yellowing leaves may have some blight starting up and should be looked it. if any dark areas in branch it should be removed as well. Otherwise it looks like a very healthy loquat,

I have numerous loquats I started from seeds. I've read that it can take 8-10 years to bloom from seed.

I would feed it several times a year with a bloom booster fertilizer. They like higher phospherous in order to bear fruit.

Mine get several large buckets of fresh horse manure dumped around them several times per year. Then the rains wash it in. They're also in poor alkaline soil. Fast drainage and no supplemental water.

Some loquats like another one close by to produce fruit. Depends on what variety you have.

"I would feed it several times a year with a bloom booster fertilizer. They like higher phospherous (sic) in order to bear fruit."

The need for a "bloom booster" fertilizer is a persistent gardening myth perpetuated by fertilizer manufacturers :-) All plants take in the 3 macronutrients at a similar ratio regardless of where they are in their flowering or fruiting cycle. And that is at 3 parts nitrogen to one of phosphorus and two of potassium (or an NPK ratio of 3:1:2). Appling a bloom booster fertilizer with 20-40 times the phosphorus than is necessary is not productive and can even be toxic.

Plants DO need phosphorus to flower and fruit successfully but in quite small quantities. And since the majority of US garden soils contain adequate levels of P, applying more is completely unnecessary.

Myth of Bloom Booster Fertilizers