Not a loop but not enough meat for a short song.
The first 22s of this sounds repetitive, after which you bring the melody loop into the bass and it works well as a background bit.
I like the melody you've got going from 22-42s. From 42s onwards is just an ending.
It's an interesting sound - as Coop says, 8-bit goes medieval (though it sounds slightly more authentic than some old chip sounds, maybe).
However, I feel that given its short overall length, the amount of the piece that's taken up by the intro and the ending leaves little room for any meat. It sorta begins, carries on for a phrase, then ends without creating much of a mood.
The tune sounds like you could have looped it, so that may have been an idea. Even though you call it a loop, it definitely sounds to me like it ends then starts again - a loop shouldn't have an obvious start/end.