It is a loop in the sense that it breaks off of the main Bracken Mt. Trail and re-connects with the Bracken Mt. Trail via Mackey Ridge Trail. Head uphill and you are on your way to the Pisgah National Forest (Bracken Mt.-475C-Pisgah Center for Wildlife Education). Head down the hill and you will complete a loop.
Once you recover from your climb up from the Bracken Mt. Preserve parking lot, it is a lot of fun. These are well-built trails, deep in a mountain cove forest. It's a blast ridden in any direction!