In a food processor, finely chop carrots, celery, onion, thyme leaves and parsley. Saute in oil in a fry pan over medium-high heat. Remove from heat.
Start sauce by simmering the wet ingredients together in a sauce pan on low-medium heat.
Place remaining components for the meatloaves, except pancetta and fried onions, in a large mixing bowl. Mix well with the sauted vegetables and herbs. ( It's okay for the mixture to be a little loose. End result will be moist meatloaves.)
Using the palms of your hands, form 10 round-shaped mini meatloaves, each topped with a slice of pancetta.
When sauce is reduced by half, break up any lumps of tomato paste, using a whisk. Adjust seasoning. Remove from heat; cover with a lid.
Place meatloaves on a baking tray and cook in oven about 10 minutes or until cooked through, rotating once. They are done when the internal temperatures reach 165 degrees F. Serve with French-fried onions and sauce.