This paper deals with the global existence and asymptotic behavior of positive solutions for the following chemotaxis competition system with loop and singular sensitivity \(\begin{aligned} \left\{ \begin{array}{@{}ll} u_{t}=\Delta u-\chi _{1}\nabla \cdot (\frac{u\nabla v}{v}) -\xi _{1}\nabla \cdot (\frac{u\nabla z}{z})+f_{1}(u,w),& x\in \Omega ,\,\,t>0, \\ 0=\Delta v-v+u+w, & x\in \Omega ,\,\,t>0, \\ w_{t}=\Delta w-\chi _{2}\nabla \cdot (\frac{w\nabla v}{v}) -\xi _{2}\nabla \cdot (\frac{w\nabla z}{z})+f_{2}(u,w),& x\in \Omega ,\,\,t>0, \\ 0=\Delta z-z+u+w, & x\in \Omega ,\,\,\,t>0, \end{array}\right. \end{aligned}\) under homogeneous Neumann boundary conditions, where \(\Omega \subset \mathbb {R}^{N}(N\ge 2)\) is a bounded domain with smooth boundary, \(f_{1}(u,w)=u(a_{1}-b_{1}u-c_{1}w)\) and \(f_{2}(u,w)=w(a_{2}-b_{2}w-c_{2}u), \chi _{i},\,\xi _{i}, a_{i}, b_{i}, c_{i}>0(i=1,2)\) . It is shown that if the parameters satisfy certain conditions, then the problem possesses a unique global-in-time classical bounded solution. Furthermore, by the method of Lyapunov functionals, the global stability of steady states is established.