This is chiptune funk with OPLL FM sounds. It's in a headbobbing 100bpm and features drums, bass, guitar, flute and vibraphone... or at least at chip approximation of these. The main loop is laidback, but the B section goes in a more tense and dissonant direction. The file loops twice with an intro, and it stops at a good loop spot back to the intro.  

There's a clean version and one as if it was on a computer monitor with background noise, for even more retro style.