Preheat the oven to 350°F (175°C).

In a skillet over medium heat, cook the bacon until crispy.

In a large mixing bowl, combine the ground beef, breadcrumbs, eggs, cheddar cheese, crumbled bacon, ketchup, Worcestershire sauce, garlic powder, onion powder, salt, and pepper.

Transfer the meat mixture to a loaf pan and shape it into a loaf.

Place the loaf pan in the preheated oven and bake for 1 hour.

Use a meat thermometer to check that the internal temperature reaches 160°F (70°C).

Remove the meatloaf from the oven and let it rest for 10 minutes.

Slice the meatloaf and serve it warm.