Preheat oven to 400F.
Coat a sheet pan with non-stick cooking spray. Set aside.
Heat the olive oil in a skillet over medium-high heat. Add the garlic and cook for about 1 minute.
Add the ground beef and cook until no longer pink. Drain the excess fat.
Add the chili powder, paprika, cumin, oregano and cayenne pepper. Cook for 2 minutes using a wooden spoon to break up the ground beef. Remove from heat and set aside.
Place ½ of the bag of tortilla chips onto the prepared sheet pan.
Top the chips with half of the beef mixture, half the diced green pepper, half the diced red onion, half the black olives and half of each of the two cheeses.
Repeat the layers.
Bake for 5 minutes, until the cheeses have melted.
Top with the slices of jalapeno, diced tomato, and fresh cilantro.
Serve with salsa, sour cream and guacamole on the side.