Begin by gathering your ingredients and prepping them. Thinly slice the beef and chop the bell peppers and onions into bite-sized pieces. Cook the bacon in a large pot over medium heat until crispy, around 5–7 minutes. Remove the bacon and set it aside on paper towels, leaving the bacon grease in the pot.

Using the pot with the bacon grease, add the chopped onions and bell peppers. Sauté for about 5 minutes until soft and aromatic.

Stir in the thinly sliced beef. Cook for 3–4 minutes until browned at the edges.

Pour in the beef broth and bring to a gentle simmer. Mix cornstarch with a little water in a small bowl until dissolved, then gradually add to the soup while stirring to thicken.

Reduce heat and stir in the cheese until melted. Add in the crispy bacon and season with salt and pepper to taste.

Preheat your oven to 400°F (200°C) to toast the bread. Place slices on a baking sheet, sprinkle with cheese, and toast for about 5–7 minutes.

Ladle the soup into bowls and serve hot with cheesy toast for dipping.