Sky Sports understands Osasuna are ready to listen to offers for Loe following their relegation from Primera Liga.
Loe is entering the final year of his contract at the Pamplona-based club and the Cameroon international is thought to be available for a fee of around £1.6million this summer.
The 25-year-old has been on the radar for a number of English clubs for some time and came close to a switch to West Ham last January only for the move to fall through at the final minute.
News of Loe's possible availability in the wake of Osasuna's relegation has alerted the likes of Hull City, Fulham, Cardiff and Wigan, who have all watched the African powerhouse in action this season.
Loe, who is set to be in Cameroon's World Cup squad, is thought to be keen on a move away from Osasuna and his preferred destination is England.