open c_distMatrix;
loop
fetch c_distMatrix into r_dist;
exit when c_distMatrix%NOTFOUND;
--compare each field and update the counter
v_matchCount:= 0;

if r_wip.transtype = r_dist.transtype then 
v_matchCount:= v_matchcount+1;
elseif r_wip.transtype <> r_dist.transtype then

--I want to skip to the next record at this stage

end if;

if r_wip.clientclass = r_dist.client_class then
v_matchCount:= v_matchcount+1;
end if;
end loop;
close c_distMatrix;

FOR rec in (<SELECT STATEMENT>) LOOP

  IF <condition> THEN

    <do stuff>

  END IF;

END LOOP;

...
   for r1 in (your select statement here) loop
      ...
      if (your criteria is met) then goto theend; end if;
      ...
      ...
   <<theend>> null;
   end loop;
...
end;