Hodgson concedes his squad is short.
He said: “We've had good loans here in the past. [Ruben] Loftus-Cheek came here on loan and played for England in the summer and was excellent. Michy Batshuayi came in one season when we were struggling a little bit to score goals and he scored goals and did extremely well for us.
“We followed Conor Gallagher on loan at Charlton and Swansea and he was doing a wonderful job for them. So I think it's just a question of who we are talking about.
“Loans per se aren't an answer to anything, players are. So let's see what players the club is able to put on the table and ask me to discuss with them and ask my opinion.
“At the moment we aren't at that point. Doug [Freedman] is preparing the possibilities and then that will be the time when I and the other members of the coaching staff come in and give our thoughts on that.
“I'd like to think that I don't come here and complain about anything. I came in to do the job for the club with the players who are here and to do the best job I could do. Without trying to appear arrogant in any way, I think that's what we're doing.
“The work we do in the coaching field, the leadership spirit we bring to it, we're doing the best job we can do. At the start of the season, everything was really hunky-dory, but then we hit a rocky patch.
“I'm afraid that during the course of a season, rocky patches are something that can happen to anybody. When they do happen, then everything gets analysed and put under the microscope.
“And one of the things under the microscope, which you're quite likely pointing out as well, what sort of players, what sort of squad have we got? What sort of backup have we got? What sort of alternatives have we got?
“But that's something which I'm confident that Steve Parish and Dougie Freedman are definitely trying to address. And at the end, then it becomes, I suppose, to player availability and whether the club has the money at that particular time to invest what they think needs to be invested.
“But again, I will work all the time at Crystal Palace for the club and the club for me is the people who employ me and I will do my best with whatever players they give me to work with. And then we'll see how that goes."