How to create .tar files for all folders under a directory

How to create .tar files for all folders under a directory:
I have hundreds of project directories under one folder. Now I want to create .tar files for these projects. Is is fairly easy to tar multiple directories to one .tar file:

tar cvf /myStorage/allProjects.tar project1 project2 project3 project4

But I needed one .tar file per project. To keep .tar files seperate. So I needed to have:

/myStorage/project1.tar
/myStorage/project2.tar
/myStorage/project3.tar
/myStorage/project4.tar

To accomplish this, I needed to write a bash script:

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