Finding objects near projectile

Hello, I’m trying to change the speed of the projectile when it nears an object. How would I know when a projectile get’s with in radius? Ex: 25 studs. Do I have to manually loop through all the objects to see if the distance is less than x?

Example Image:
Untitled
(sorry for bad drawing XD)

Thank you.

Bump please. I don’t think looping every time the projectile moves is very optimized so I’m hoping there’s a better way.