Split loaf of bread lengthwise and place on a foil lined baking sheet.
In a small saucepan, melt butter. Add minced garlic to butter while melting, and let the garlic cook in the butter for 2-3 minutes.
Brush garlic butter all over top of the bread. Spread Ranch dressing over the garlic butter. Top with cheddar cheese, then Parmesan cheese. Sprinkle with paprika.
Bake in oven for 15 minutes. After 15 minutes is up, place bread under broiler option in the oven for 2-3 minutes, to brown up the top and make the cheese bubbly. Watch the bread carefully during this step, as it can burn quickly. If you think it looks bubbly enough, remove from oven immediately.
Sprinkle with chopped parsley and cut into individual slices.