Funding Time vs. Cost
Some funding sources take more time than others. It takes a long time to get a bank loan but the rates are low. A private lender will also likely take a while to get a loan with medium costs. Private lenders can be difficult to find.
Hard money lenders may have slightly higher costs but you get your loan much faster, which means you're able to complete the project and start another faster. Do your research before using these resources to see which is best for you and your project!