$args = array(
'post_type' => 'membersprofile',
'posts_per_page' => 20);

$loop = new WP_Query( $args );

    while ( $loop->have_posts() ) : $loop->the_post();

$newvar = explode(" ", the_meta());
echo $newvar[0];

endwhile;

$key_2_value = get_post_meta(get_the_ID(), 'wpcf-shortbio', true);

// check if the custom field has a value
if($key_2_value != '') {
    echo $key_2_value;
}

<?php if (have_posts()) : ?>
<?php while (have_posts()) : the_post(); ?>
   <p><?php echo post_custom( 'my_meta_key' ) ; ?></p>
<?php  endwhile; endif; ?>