What is the difference between a fix-and-flip loan and hard money?

Short answerFix-and-flip loans are a structured type of short-term financing built for investors, with renovation funds released in draws as work is completed. Hard money is a broader private-lending category that can fund flips but also land, bridge situations, or borrowers who cannot qualify elsewhere, often at higher rates. Many flippers use dedicated fix-and-flip products because the draw process matches construction budgets.