There's been a few unsecured Bitcoin loan websites that have popped up over the past few years, such as BTCJam or BTCPop. They all have had the same issues with people running away with the loan, and generally not much happens. Your identity would be released publicly or to the people who lent you money, and they could come after you legally if they wanted. I'd be surprised if anyone even attempted to recover funds that way. Usually the biggest issue on those platforms was convincing people to lend to you in the first place.

It's very interesting that Equso states that they "we guarantee repayment with our company funds" to promote themselves to lenders. It seems like a really dumb business model and I highly doubt they'll end up profitable unless there's something crucial about their loans that I'm missing. Requiring 17.5% of the loan balance in your crypto address to prove solvency doesn't seem like it'll deter many scammers.