Steve Cotterill has 'a little money' to spend in the January transfer window.
But he still expects to deal in loans as he looks to strengthen his paper-thin squad.
The Blues boss finally received a phone call from Balram Chainrai on New Year's Eve.
The five-minute conversation saw the joint-owner give the green light to bring in two loans.
Cotterill has also been handed a small transfer kitty, a sum which includes cash from the expected sale of Matt Ritchie.
The midfielder will join Swindon in the next few days for 200,000, although the fee could rise to 250,000 should the Robins win promotion.
There will definitely be no Pompey spending spree, though.
The Blues had a squad of just 15 at Watford on New Year's Day as they slumped to a 3-0 defeat. But Cotterill is hoping to begin his search for vital recruits during the next week.
He said: 'I spoke to Mr Chainrai briefly on New Year's Eve.
'Once we get the next four days out of the way, hopefully we can try to get a couple of loans and some players to supplement what we have lost.
'Hopefully we will be getting a few players to supplement us, whether it be permanent or two loans.
'I think there may be a little bit of money but I don't think the money available will make a significant difference.
'It may be loans could be a better or stronger option.
'We have got to look very much at it after the Brighton match but in between Hull and our next league game, too, because quite often you won't get a player to play in the Cup.
'We'll see what we can get maybe in the two weeks after Hull. I wouldn't imagine any major happenings before then.'
Cotterill has been boosted by Liam Lawrence's permanent signing, as long promised by Pompey.
He officially joined on New Year's Day on a three-and-a-half year deal.
However, under Football League rules, Pompey were unable to register him to feature against Watford, although he will play today against Hull.
That creates another loan spot, making it two available, which the Blues boss fully intends to utilise.
Wolves have also given permission for Greg Halford to remain at Fratton Park until the end of the season.
The versatile 26-year-old's existing loan spell is up after today's Hull clash.
However, he will miss that game, the Cup tie against Brighton and the league encounter with Nottingham Forest following his red card against Watford.
Cotterill has backed Andy D'Urso's decision to send off Halford and it is unlikely there will be an appeal, prompting an automatic three-match ban.
Meanwhile, Ritchie will make his loan spell at Swindon permanent this week.
The Gosport youngster made 10 appearances for the Blues but has been on loan at the County Ground since the start of October.