coopernik -
Interesting problem - how much reduction in horizontal capacity might you experience with compression of loess?
My experience with loess is that it is very anisotropic with respect to response to loading. As Jeff pointed out, your laterial resistance and friction resistance against uplift will control your foundation design. How thick is the loess that your going to build on? A pile foundation would have to extend through the loess, and possibly be designed for downdrag from the loess.
Depending on the thickness of loess, and the loads you need to resist, you may want to presoak the foundation area beyond the limits of the foundations lateral influence to collapse it, then construct a mat foundation to support the load.