First of all, with over 6 mill residents, US News ranks Tennessee as number 13 for overall Economy.  A GDP over 330 Billion, the median single person income for a Tennessee resident is just under $25,000 which is $3,555 less than the US average. Business Development initiatives include a long list of business incentives and grants, Workforce & Workplace Education, business climate modeling and more. If you are looking for the best business loans in Tennessee, look no further. Cheddar Capital is native to the state, striving to help the local business economy and offer one of the best business loans in Tennessee. Furthermore, Tennessee is a Right-To-Work State, meaning there is No Personal income tax on wages and  State & Local Tax are among lowest in US.