What is the difference between hard money and private money?

[Dennis Meppelink]

I am searching for the difference between these two kinds of loans, but still don't get it.

Anyone who can explain me?

Thank you. 

Dennis Meppelink from Holland

[Roy N.]

@Dennis Meppelink

Private money is just as it sound - it comes from a private individual who is not a licensed professional lender.  I.e. your Uncle Eugene would be a private lender;

A Hard Money lender is an individual or company in the business of lending against hard assets (i.e. they lend based on the equity of the property).  They are a second tier lender and are {suppose to be} licensed. 

That's an overly simplified view.  Someone who's been in the industry like @Jay Hinrichs could give you a better description.