create or replace
PROCEDURE retrieve_pdfm
  (
    p_invid IN invoice_detail.invd_inv_id%TYPE,
    
       
 
    p_afrmid OUT application_form.afrm_id%TYPE,
    p_desc OUT application_form.AFRM_DESCRIPTION%TYPE,
    p_email OUT application_form.AFRM_AGENCY_E_ADDR%TYPE,
    p_userid OUT GENERATED_AGENCY_APPL_FORM.GAAF_CREATOR_USERID%TYPE,
    p_gaafid OUT GENERATED_AGENCY_APPL_FORM.GAAF_ID%TYPE,
    p_confirmnum OUT invoice_detail.INVD_CEPAS_CONFIRM_NUM%TYPE,
    p_datepaid OUT invoice_detail.INVD_DATE_PAID%TYPE,
    p_creationdate OUT invoice_detail.INVD_CREATION_DATE%TYPE,
    p_invdfee OUT invoice_detail.invd_fee%TYPE,
    p_sku OUT invoice_detail.INVD_SKU_NBR%TYPE,
    p_directory OUT AGENCY_APPLICATION_FORM.AAFRM_DIRECTORY_STORED%TYPE,
    p_code OUT AGENCY_APPLICATION_FORM.AGENCY_AGY_CODE%TYPE,
    p_bizid OUT INVOICE.INV_BIZ_ID%TYPE,
    p_bizname OUT BUSINESS.BIZ_BUSINESS_NAME%TYPE,
   p_pdf OUT GENERATED_AGENCY_APPL_FORM.GAAF_FORM%TYPE)
   
 
IS
 
 
 
    
   e EXCEPTION;
  pragma exception_init(e,100);
  cnt number;
  CURSOR m_cursor
  IS
     SELECT d.afrm_id         ,
      d.afrm_description      ,
      d.afrm_agency_e_addr    ,
      b.gaaf_creator_userid   ,
      b.gaaf_id               ,
      e.invd_cepas_confirm_num,
      e.invd_date_paid        ,
      e.invd_creation_date    ,
      e.invd_fee              ,
      e.invd_sku_nbr          ,
      z.aafrm_directory_stored,
      z.agency_agy_code       ,
      g.inv_biz_id            ,
      f.biz_business_name,
      b.gaaf_form
       FROM generated_agency_appl_form b,
      application_form d                ,
      invoice_detail e                  ,
      invoice g                         ,
      business f                        ,
      agency_application_form z
      WHERE b.gaaf_aafrm_id = d.afrm_id
    AND b.gaaf_id           = e.invd_id
    AND e.invd_inv_id       = p_invid
    AND e.invd_inv_id       = g.inv_id
    AND d.afrm_id           = z.afrm_afrm_id
    AND g.inv_biz_id        = f.biz_id;
BEGIN
  OPEN m_cursor;
  LOOP
    FETCH m_cursor
       INTO       
      
       p_afrmid ,
      p_desc         ,
      p_email        ,
      p_userid       ,
      p_gaafid       ,
      p_confirmnum   ,
      p_datepaid     ,
      p_creationdate ,
      p_invdfee      ,
      p_sku          ,
      p_directory    ,
      p_code         ,
      p_bizid        ,
      p_bizname ,
     p_pdf;
     
     
     
    EXIT
  WHEN m_cursor%NOTFOUND;
          END LOOP;
  
   cnt := m_cursor%ROWCOUNT;
  IF cnt = 0 THEN raise e; END IF;
  CLOSE m_cursor;
  
EXCEPTION
  WHEN e THEN
--WHEN NO_DATA_FOUND THEN
  DBMS_OUTPUT.PUT_LINE('wrong value given');
END retrieve_pdfm;

cannot perform fetch on a pl sql statement 

It fetches all rows from the cursor and only "remembers" the last one fetched.

Nowhere if it is what you want.