The Bolton boss says there is no deal to bring the Spaniard to the Reebok Stadium, but feels the club have an excellent working relationship with top teams after previous loans
The Spaniard struggled to break into manager Roberto Di Matteo's plans towards the end of last season after making fleeting appearances under Andre Villas-Boas.
Reports have suggested the 20-year-old could move away from Stamford Bridge to gain more experience, but despite their willingness in the past to take players on loan, Coyle has revealed there os no deal on the table.
He told the Bolton News: "I'm sure the stuff with Romeu came up because of the relationship we have with Chelsea but sometimes people put two and two together and make five.
"There is no doubt that if there are players available on loan from Chelsea that Bolton Wanderers would be in the mix but there's got to be an understanding of the level, depending on the player."
Coyle believes, because of their proven work with youngsters, the Trotters have an excellent relationship with top teams in England and abroad following the success stories of Jack Wilshere and Daniel Sturridge.
"I'd suggest we've got a great relationship with all the elite clubs, and that's not just in this country," he said.
"Barcelona B are coming to play against us because of the relationship we have with Barcelona, and we have a very good relationship with Real Madrid.
"We know there are terrific players out there and that because of those relationships, those kind of clubs trust us with their players and know we'll do right by them.
"We're held in quite high regard because of how we work with the youngsters and improve them, so I don't think we'll ever be short of being able to entice them to the football club."