Loop through entity in a template
As Kevin says in his comment, Drupal will do most of the work for you if you use view modes on the referenced content type:

/admin/structure/types/manage/{referenced-content-type}/display

In your case, you might want to modify the Teaser view mode so that it hides all fields except for Name and Description. (If you are already using the Teaser for something else, you can create a new view mode.)

Then, when you render the entity reference field, just use the format "Rendered Entity" and configure the view mode that you wish to render (e.g., Teaser).