Hello Evgeny,
SAP suggests avoiding using cursors with loops in the first place. By the way this is officially public here:
SAP HANA SQLScript Reference - SAP Library
Using plain SQL (avoiding row-by-row processing) is where we see the best performance (if that's what's driving you now). So you might want to check if your implementation can benefit from that instead.
If not, then why push it to HANA? Although we hear lots of fuzz about pushing logic to HANA, app server implementations are still necessary and will offer a better toolset to developers (generally speaking). Specially in row-by-row processing.
BRs,
Lucas de Oliveira