The League Two title chasers were in talks with a player last week and could revisit the deal ahead of the window closing on Thursday.
"There could be something on the cards before the loan window closes," Vale chairman Paul Wildes told the Sentinel.
"Micky (Adams, manager) has a very strong squad already and finding someone to improve it hasn't been easy. But he wants to make an addition and we'll give him all the help he needs.
"We were close to landing a player last week, and we could look again at that situation before Thursday."