Bomb Loadout has the limited keyword and I have looked for the rules and found nothing about it. So could I have 2 on one ship with two torp slots?

No. Limited means only one per ship.

It was first introduced in the huge ship rules, and I think that's where the rules for it still are, but limited means you can have more than one in the squad, but only 1 on any single ship.

X-Wing Huge Ship Rules page 4:

Now, if you really want two bombs on a Y-Wing, you'll soon have the ability:

Extra Munitions (2 points) is coming out in Wave 7, and effectively doubles all other equipped Bomb, Missile, and Torpedoes, by giving them a token you can discard rather than the card itself.
So, even though you can't equip two separate bombs on a Y (or anything else) as though you had two slots, you CAN double up on any bomb you want for a discount.

And yes, it is also Limited. If it were not, a Bomber could have 3 Proton Bombs for 9 points, giving you a 25 point ship that can deal 3-6 damage directly to the hull of every ship on the field without attacking, over the course of 3 rounds.

Limited: The keyword that lets FFG print fun things without making them absolutely broken.

Effectively Bomb Loadout + Extra Munitions takes up your torpedo slots but gives you a bomb upgrade card that you can use twice. Which might prove to be nasty depending on the new bombs coming in Wave 7.

Thanks everyone for the responses.