Definitely yes. But as you say, the leaves are very big so you’d have to make a big bonsai for it to have any appeal. Starting from seeds, this’ll take you only a few decades.
I have had a few loquats that started from seeds, in relatively big pots. I’m just playing around, and if one of these years they bear fruit, I’m happy with that. I have no intention to even try to make bonsai out of them.