Preheat oven to 350 degrees F (175 degrees C). Line a 9x5x2-inch (23x13x6-cm) loaf pan with parchment and spray with cooking spray.
In large bowl, combine cereal and beef broth. Let stand 2 minutes or until broth is absorbed and cereal softens.
In small bowl, combine, eggs, chili powder, salt and black pepper.
Add egg mixture, beef, onion, flour, celery, red pepper and parsley to cereal mixture. Mix together well. Press mixture well into prepared pan.
Bake in preheated oven until food thermometer reads 160 degrees F (71 degrees C) at centre of meatloaf, about 1 hour 15 minutes. Let stand 10 minutes before slicing. Turn onto serving platter and serve with Sweet Salsa Sauce.
For Sweet Salsa Sauce: In small saucepan, heat salsa and brown sugar to a boil. Simmer for 3 minutes, stirring occasionally.