Ephraim has yet to feature for the Championship outfit this season, and the former West Ham United player has revealed that he is keen to get some first-team football under his belt.
The 25-year-old told the club's official website: "It was time for me to get out and play a bit of first-team football.
"I've played at this level with Leeds and Charlton, so I know what to expect. The team play attacking football, so I'm looking forward to it."
Ephraim has been given permission to play for the League One club in the FA Cup first round against Exeter City on Saturday.