Taylor said: "He's going to sign for a month. I'm very lucky to have four or five left-backs at the club, with Dawson coming back, and Shaun is unlucky not to be involved at the moment.
"Shaun's contract expires at the end of the season, so this is a good opportunity for him. He's a great professional."
The 32-year-old was signed by Jan Molby from Crewe after 10 years at Gresty Road, but failed to show the form that made him a permanent fixture in Dario Gradi's side. He made just 17 starts last season before being transfer-listed.
Two other members of Taylor's squad - Greg Strong and Clayton Donaldson - are also out on loan. Strong has been ever-present for Bury, while Donaldson has played once for Scarborough so far.