Having seen his side net just 59 times in 46 second tier outings last season, finding a proven goalscorer has been a top priority for those at the Reebok Stadium this summer.
Funds are, however, in short supply and Freedman has brought in the likes of Dean Moxey, Neil Danns, Liam Feeney, Dorian Dervite and Liam Trotter without paying a fee.
He hopes there will be further arrivals to come but appreciates that finding players of the required standard on a tight budget will not be easy.
Freedman told the Bolton News: “If we’re going to make any impact on the top positions, I believe we need to add three attacking options.
“Whether that’s in the loan market or buying them, I’m not quite sure yet.
“One or two teams always spend their millions but at the moment, you’re getting teams like Huddersfield Town or Bournemouth – getting crowds not far off our own – spending big on players too.
“Unfortunately, we’re not able to do that right now. The money was spent in the Premier League.
“But if we work hard, get some attacking players in, then there’s no reason why we can’t punch above our weight.”
Freedman is not overly concerned if he has to wait for the summer window to shut before bolstering his ranks, with short-term deals having been kind to him in the past.
He added: “I can’t sit in my office and whinge about Fulham, Norwich or Cardiff spending on players.
“As a coach I have proved that you don’t always need money, it doesn’t always guarantee success. It can possibly help you get there quicker but I think it can tear things down quicker too if you don’t get it right.
“We’ve used the loan market to good effect, but personally I feel loans should only be used in an emergency. I’d prefer to work with a player over time and develop him.
“I keep giving the chairman options and if he can do them, great, if not, we’ll move on.”