Sbragia is keen on bringing in a new defender, due to the lack of experience in the Black Cats’ defence.
McShane joined Hull on loan last August.
“We’ve had a feeler out for a couple of players, but I think we’ve lost one of those already,” said Sbragia in the Northern Echo.
“It’s no secret that I need defenders, but that doesn’t necessarily mean having to buy anyone.
“George McCartney has a chance of coming back in two weeks’ time and we have Paul McShane out on loan, so there might be a thought of bringing him in.
“I definitely won’t be held to ransom with some of the quotes that have been put towards us, and I definitely won’t be going for a foreigner this time. It would take a foreigner too much time to bed in.
“I’d like to add another one, but we know Paul is there so he’s a possibility. There are another couple of players we’re thinking about, but if it doesn’t happen, we have him.
“If other things come off, I’ll leave Paul out on loan.”