Heat the olive oil in a medium saute pan. Add the onions, green pepper, thyme, salt, and pepper and cook over medium-low heat, stirring occasionally, for 8 to 10 minutes, until the onions are translucent but not brown.
Remove the pan from the heat, and add the Worcestershire sauce and tomato paste. Allow to cool slightly.
In a large bowl, combine the ground beef, onion and green pepper mixture, bread crumbs, and eggs, and mix by hand until the ingredients are well distributed.
Place foil liners into a 12-cup muffin pan and shape individual portions of meatloaf to fit each muffin cup. Spread about a tablespoon of ketchup on the top of each portion.
Bake for 40 to 45 minutes, until the internal temperature is 155-160 degrees and the meatloaves are cooked through. Serve hot.