A collaborative workspace app in Microsoft 365 designed to help teams co-create, stay organized, and work together in real time across apps and devices.
Hello Jacklyn - AP,
Welcome to Microsoft Office Community. Thank you for sharing your concern with us today and we hope that all is well.
To answer your question, Loop is a collaboration inside a chat message in Microsoft Teams while Share file feature allows you to share the file via link for collaboration.
Learn more here:
First things to know about Loop components in Microsoft Teams - Microsoft Support
Share and collaborate - Microsoft Support
We hope that helps! If you have other clarifications about this matter, you can get back to us by replying to this post.
Sincerely,
Kathy A.
Consumer M365 Forum Moderator