The former Nottingham Forest and Stoke player has started 26 games in his two years at Brighton, coming off the bench 29 times.
Taylor says there's a "strong" chance of signing him permanently at the end of the month if he impresses.
Meanwhile, forward Lawrie Dudfield makes his return from injury as City's Reserves take on Bridlington Town in the East Riding Senior Cup tonight. He's been missing for almost two months after having surgery on his knee.