Preheat your oven to 350°F (175°C). Lightly grease a loaf pan or a small baking dish with the olive oil and set it aside.

In a large mixing bowl, combine the breadcrumbs and milk. Stir and let the mixture sit for about 3–4 minutes until the breadcrumbs have soaked up the liquid and softened slightly.

Add the eggs, salt, black pepper, smoked paprika, Worcestershire sauce, minced garlic, and finely diced onion to the breadcrumb mixture. Whisk or stir until everything is well combined into a loose paste.

Add the ground beef to the bowl. Using clean hands or a spatula, gently mix the beef with the breadcrumb mixture until just combined. Avoid overmixing so the meatloaf stays tender.

Sprinkle the shredded sharp cheddar cheese over the meat mixture and fold it in evenly, making sure the cheese is distributed throughout but not overworked.

Add 1/2 cup of the barbecue sauce to the bowl and gently mix it into the meat mixture until it is evenly incorporated.

Transfer the meat mixture to the prepared loaf pan or baking dish. Shape it into an even loaf, pressing lightly to eliminate large air pockets but not packing it too tightly.

Spread the remaining 1/2 cup of barbecue sauce evenly over the top of the meatloaf to create a glaze.

Place the meatloaf in the preheated oven and bake for 50–55 minutes, or until the internal temperature reaches 160°F (71°C) when checked with a meat thermometer in the center.

Remove the meatloaf from the oven and let it rest in the pan for 8–10 minutes so the juices can redistribute.

Sprinkle the chopped fresh parsley over the top if using. Slice the BBQ Cheddar Meatloaf into thick pieces and serve warm.