McFadden is back training with Motherwell after a brief spell at Sunderland ended and a move to Nottingham Forest fell through when he travelled to the City Ground on the day Alex McLeish left his short reign as manager there.
Black said: "James has come in very similar to what he did a few months back. He came in looking for training facilities."
McFadden, who hit 32 goals for Motherwell as a teenager, has already been back at the club for two weeks and a move looks unlikely after contract talks with Fir Park chief executive Leeann Dempster failed to come to fruition before he signed for Sunderland.
"We are more than willing to accommodate him," Black continued. "James came in, got himself fit and got himself a move to Sunderland. He is now back up and it's really much of the same.
"He is keeping himself ticking over, a local lad, and we're happy to have him on board. That's as far as it goes, nothing has changed from the last time he was here."
Motherwell manager Stuart McCall had some money left in his playing budget but with 10 players out of contract in the summer he might want to plan for the long term instead of trying to sign McFadden on a short-term deal. Black added: "I don't know the finances in regards to if we can offer him anything.
"I do know that we have lost Jamie Murphy and brought Kallum Higginbotham in and we have a lot of frustrated players at Motherwell.
"Bob McHugh did tremendous during the week and scored a hat-trick for the under-20s. Whether we can accommodate James McFadden will probably be for the chief executive to deal with.
"It makes sense if you have the finances to do it. I don't know how many games James got at Sunderland. But we are certainly happy to have him in because he is well-liked around the place."