They will work just as FIAT loans. There are many loans on this forum, just go to the lending section and see it for yourself. If you take a good collateral, you shouldn't have any problems if the loan defaults. As you can see, a common sense is the most important, if you are giving a FIAT loan or Crypto loan.
Lenders in lending board here are more willing to give out bitcoin loan, instead of fiat. They are here for bitcoin, nor for fiat.
Websites have been made for this purpose already.
Yes, like btcjam.com
I know that lenders on bitcointalk are giving out loans in BTC only. I didn't say that they are here for FIAT but for Bitcoin, of course.
The point that I was making to the OP is that Bitcoin loans in the future should work essentially in the same way as the FIAT loans are working right now, I don't see why anything would change as long as good collateral exists.