Most text data files have one record per line. You are looping through the file
as a list and specifying the vertical tab character as a delimiter (CHR(11)).
This is probably why you are only getting one record.

I usually create a variable for CR/LF as the delimiter for text file records:
<CFSET crlf = CHR(13) & CHR(10)>
<CFLOOP List="#file_content#" Index="rc" Delimiters="#crlf#">

To test this, you may want to just output the CSV file to the browser to make
sure you are getting all the records, then go back and update the database.

-Paul