You could use the Excel Importer from the Marketplace to import the excel data into your application and have it populate the required entities in a single step.
https://docs.mendix.com/appstore/modules/excel-importer/
Ryan gives a good overview on how to use this module in this video on YouTube.
https://www.youtube.com/watch?v=6W_rvzxH3WA
You would only need to run this once per environment if you are using persistent entities.
Good luck!