How to Get The Taxonomy Term in Custom Post Type Loop Inside a Wp Query

I need to get the term of each post while running WP Query. I tried this inside the loop

$term = $loop->get_queried_object();
echo  $term->name; 

but I am still getting custom Post Type registered name instead of getting the Term!

$args = array(  
        'post_type' => 'services',
        'post_status' => 'publish',
        'posts_per_page' => 8, 
        'orderby' => 'title', 
        'order' => 'ASC', 
    );

    $loop = new WP_Query( $args ); 
        
    while ( $loop->have_posts() ) : $loop->the_post(); 

     $term = $loop->get_queried_object();
     echo  $term->name; 

     echo  get_the_title(); 

endwhile;
wp_reset_postdata();