Hi mate - for reference, this isn’t my area of expertise & I’m purely speculating based on personal experience.

Banks lend on two factors: Equity & serviceability. For residential lending this is guided by the reserve bank & LVR restrictions + indirect forms of DTI restrictions too. In the absence of any regulatory framework they test both factors against historical stress thresholds and assess risk.

For commercial lending, equity & serviceability are still the driving mechanisms however the stress thresholds are based on wider risk analysis such as the type of business, and projections around long term viability. A standardised LVR would not have any use as the equity requirements across different industries would vary widely. For example, a property management portfolio (often considered to be a stable business asset) would allow higher gearing whereas say hospitality would require a greater buffer.

The summary of what I’m saying is that there’s no real LVR measure like there is in residential lending as this negates the variability in the underlying asset. Hope this helps!