Preheat your oven to 350°F. Line a baking sheet with foil and lightly coat it with cooking spray.
In a small skillet, heat the olive oil and sauté the chopped onion over medium-low heat until soft. Allow it to cool down completely.
In a medium mixing bowl, whisk together the eggs, whole milk, and seasoned bread crumbs. Let this mixture rest for about 5-10 minutes.
Next, add the ground beef, cooled onions, chili sauce or ketchup, dried herbs, chopped parsley, salt, and pepper to the bowl. Combine gently until mixed but don't overwork it.
Shape the mixture into a loaf measuring about 8"x4" and place it on the prepared baking sheet. Bake in the oven for 40 minutes.
While the meatloaf cooks, mix together the chili sauce and ketchup (and brown sugar if using). Once the 40 minutes are up, spread this sauce over the top of the meatloaf and return it to the oven for an additional 10-15 minutes, or until it reaches an internal temperature of 160°F. Broil for 1-2 minutes for a nice finish, if you like.
After removing from the oven, let the meatloaf rest for 10 minutes before slicing and serving. Enjoy this delicious comfort food with your loved ones!