Preheat your oven to 350°F.
In a large bowl, combine the ground beef, breadcrumbs, chopped onion, cheddar cheese, eggs, Worcestershire sauce, barbecue sauce, garlic powder, onion powder, salt, and black pepper. Mix until just combined, being careful not to overmix.
Transfer the meat mixture into a loaf pan, shaping it into a loaf.
Spread the ketchup evenly over the top of the meatloaf.
Bake in the preheated oven for 1 hour, or until the internal temperature reaches 160°F.
Let the meatloaf rest for 10 minutes before slicing.
Garnish with chopped parsley if desired. Serve warm.