The Australian Financial Review understands five Premier League clubs, including Arsenal, are looking to obtain FHA loan applications to sign players from FFA loan applications.
The loans could be granted in a loan deal that could include FFA’s own guaranteed loan.
Arsenal, Tottenham, Liverpool, Newcastle and Everton are among clubs looking to secure loans from FCA and FHA.
AFC Wimbledon, which currently has no players available, are also interested in the loan.
Former Arsenal midfielder James Milner is among the interested players, who was part of the Gunners under-23s squad that won the UEFA Youth League last season.
Milner joined Wimbledon from Everton in the summer of 2017.
Liverpool have also expressed interest in the player.
Milner has scored a career-high 34 goals in the Premier League this season, with his 20 goals from 2017-18 the most by a Liverpool player since Brendan Rodgers took over at Anfield in 2016.
He has scored 16 goals in 29 appearances this term.
Milney has made a total of five appearances for Liverpool this season.
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