The highly-rated central defender has been making his mark in the reserves at Ewood Park, and Graeme Souness has allowed him to pick up some first team experience with Roddy Collins's side.
Although only 19, Taylor is already starting to build a reputation for himself, and will undoubtedly benefit from the stint in Cumbria.
He made his debut in the game against Bournemouth at the weekend.
Meanwhile, Collins has been dealt a major blow with the confirmation that star striker Richie Foran has broken a cheekbone.
The Irishman, rumoured to be a target for Coventry City, faces around six weeks on the sidelines after picking up the injury during the clash with Bournemouth on Saturday.
Finally, goalkeeper Danny Naisbitt has returned to Conference side Barnet after spending a month on loan with the Brunton Park club.
Naisbitt made two appearances in goal for The Cumbrians against Scunthorpe United and Rotherham United during his brief spell.
