Demand for business credit has been flat over the past year, but a pick up in inquiries in the June quarter might signal the start of a turnaround.The latest Veda Business Credit Demand Index, released yesterday, shows that inquiries in the June 2011 quarter were up 17.4 per cent over the previous quarter. Inquiries about business loans and credit cards were up 29 per cent quarter-on-quarter, while inquiries about asset finance were up 10 per cent.Trade credit inquiries were up 16 per cent in the June quarter.Lenders have been forecasting a pick up in business lending since late last year but there has been no evidence of increased activity.The Australian Prudential Regulation Authority's figures show that banks' business loan books grew by only 1.3 per cent in the year to June. Balances fell 2.5 per cent in the June quarter.